Electricity prices in Cyprus in two years will fall by 15-20% on average on the island – said Energy Minister Natasa Pilides. Electricity will be cheaper thanks to a new power plant, which will produce electricity from natural gas produced in Cyprus.

Construction of the power plant, despite all the restrictions associated with the Coronavirus pandemic, is due to be completed in 2022. Natasha Pilides noted that Cyprus was lucky in this respect compared to other countries: the Andipandemic measures had an impact on its economy and, in particular, on the development of the energy sector is not so noticeable. At the same time, the cheapening of electricity opens new perspectives for the country: Cyprus will become more competitive and attractive for foreign business.

Recall that not so long ago it was reported that Cyprus was among the leaders in Europe in terms of the cost of residents to pay for electricity. And it was explained by the high cost of resources, not their excessive consumption.