NICOSIA – Joining with other countries where electricity prices are soaring in the aftermath of Russia’s invasion of Ukraine, Cypriots will see a 24 percent hike but the government said subsidies for those who can’t afford it will cut it to 4 percent for them.

The Electricity Authority of Cyprus (EAC) pricing plans are expected to receive approval from the Cyprus Energy Regulatory Authority in the coming days, EAC spokesperson Christina Papadopoulou said, reported Kathimerini.

“There was a big increase in the fuel price adjustment last month, a huge increase in oil prices and at the same time there is an increase in EAC’s base rates,” Papadopoulou said, confirming it will be in the 24 percent range.

She said that payment plans for those who can’t afford the higher bills and aimed at the most vulnerable sector who have been determined with special government codes will be offered them.