TRNC to increase the price of electricity by 15 percent

TRNC Economy and Energy Minister Erhan Arıklı has announced that a 15 percent increase in electricity prices by the end of May is inevitable.

He made the revelation on Friday last week while speaking to local media, YENİDÜZEN.

Arıklı stated that the price of electricity will increase from 97 kurus to 119 kurus per kilowatt.

The Minister said that the Kıb-Tek Board of Directors applied for a raise in accordance with the regulation 2 months ago and said, “We wanted it to be postponed due to economic problems. 

He said the new decision will come into effect if the government refuse to produced an alternative.

Arıklı also stated that there are no funds left in the Price Stability Fund.

He said that damage to the institution should not be tolerated adding that the government can barely even pay salaries as they do not have any resources.