Electricity Prices Rise in Northern Cyprus from October 1st

As of October 1st, 2024, new electricity tariffs have come into effect in Northern Cyprus, leading to a 15% increase in electricity prices.

The Cyprus Turkish Electricity Authority (KIB-TEK) has announced a 15% hike for all tariff types. In addition, the fixed charges levied by the supplier on its subscribers have gone up by 19.19%, in line with the recent increase in the minimum wage.

The new rates take effect starting today. According to the statement, the tariffs have been updated to reflect the new minimum wage.

The temporary rate per kWh in the single-use tariff has risen from 10.7374 TL to 12.3480 TL.

For the standard residential tariff:

• For 0–250 kWh per month, the price has increased from 3.7414 TL to 4.3026 TL
• 251–500 kWh has increased from 7.7185 TL to 8.8763 TL
• 501–750 kWh has increased from 8.2993 TL to 9.5442 TL
• 751–1000 kWh has increased from 8.9959 TL to 10.3453 TL
• Over 1000 kWh has increased from 10.7376 TL to 12.3482 TL.

It’s worth noting that the last increase in electricity tariffs in Northern Cyprus took place on June 1st, when prices rose by an average of 13%.

The new minimum wage came into force in Northern Cyprus on September 18th. A 10-day period was allowed for objections. On September 30th, after reviewing employers' objections, the minimum wage remained unchanged, standing at 35,180 TL net and 40,436 TL gross, before taxes.