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As electricity price hikes loom in Cyprus, AKEL touts solutions

As consumers in Cyprus face the looming prospect of electricity price hikes, the opposition AKEL party has presented a series of measures it says could reduce the cost of energy.

Speaking to reporters, general secretary of AKEL, Stefanos Stefanou proposed a reduction in the VAT rate on electricity from 19% to 9%, taxation on excess profits in the energy sector, as well as the continuation of existing energy and fuel measures.

AKEL also proposed that the state promote the installation of renewable energy sources.

In addition, he called on the government to support the Electricity Authority to develop its infrastructure and modernize its plant at Dhekelia.

Stefanou added that the government should proceed with holding competitive tenders for the introduction of renewable energy sources.

Famagusta Gazette