More electricity price hikes on way: Kib-Tek union leader

Another hike in the price of electricity is on the way, leader of the Cyprus Turkish Electricity Authority Workers’ Union (El-Sen), Ahmet Tuğcu has warned. 

This follows the recent 15% increase.

Speaking on Gökhan Altıner’s “Sabah Postasi” programme on Kibris Postasi TV, Tuğcu explained that due to the Kalecik-3 contract and poor financial management at Kib-Tek, more price increases are inevitable.

He outlined four main reasons for the hikes:

The Kalecik-3 contract with AKSA.

High-interest loans.

Losses in the grid, with one-third of electricity being wasted.

Unpaid debts from privileged groups.

Tuğcu reiterated that without addressing these issues, price hikes will continue and mentioned that after a previous 13% increase, followed by this 15% hike, another one is expected soon.