Electricity demand falls by almost a quarter.
He also added that CERA would look into possibly further decreasing the cost of electricity. "There has been a huge drop in demand for electricity and it is 20 to 25 per cent below what it was two years ago," he said.
Shammas presented CERA's findings to the House Finance Committee along with the Electricity Authority's (EAC) proposed budget.
CERA's budget of e1/41.91 million for 2013 foresees a surplus and is e1/4690,000 higher than 2012. The EAC's income for 2013 is estimated to be e1/42.15 million, e1/4700,000 more than in 2012.
Shammas also revealed a pilot scheme would be implemented where 125 needy families will receive state sponsorship to install net metering in their homes. He added that CERA suggested the programme should be expanded to include 500 homes.
Net metering is an electricity policy for consumers who own (generally small) renewable energy facilities, such as wind, solar power or home fuel cells.
Copyright Cyprus Mail 2013
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