Northern Cyprus Considers Potential Electricity Tariff Increase

The Chairman of the Board of Directors of Kıbrıs Türk Elektrik Kurumu (KIB-TEK), Gürsel Uzun, stated that the issue of increasing electricity tariffs is currently under discussion.

According to him, a final decision has not yet been made. The company continues to analyze rising costs, primarily fuel costs.

"We are currently evaluating expenses. Essentially, we are conducting a loss analysis. The market is very unstable, and fuel oil prices, in particular, have risen significantly," Uzun noted.

He reminded that according to legislation, the energy company cannot make a profit or operate at a loss; therefore, tariffs are reviewed every two months, and the next review is expected at the end of this month.

At the same time, an option is being considered where the Ministry of Finance could cover a potential budget deficit if the increase in expenses proves significant.

Uzun also noted that expenses are influenced not only by fuel prices but also by the rising cost of infrastructure materials, including copper.

A clearer picture regarding the tariffs is expected to emerge within the next 1–2 days.