Starting from June 1st, Northern Cyprus has seen an increase in electricity tariffs

From the 1st of June, 2024, Northern Cyprus implemented revised electricity tariffs, with an average surge of nearly 13% across the nation.

The Cyprus-Turkish Electricity Authority (KIB-TEK) declared a 13% rise in electricity charges for all categories of tariffs. The updated rates are effective from today.

The announcement highlights that the tariffs have been revised considering the new minimum wage.

The temporary charge per kWh in the single tariff has been escalated from 8.2627 to 9.5021 TL.

In the standard tariff for residential consumers, the price for 0–250 kilowatt-hours per month has risen from 3.3110 TL to 3.7414 TL;

for 251–500 kWh, from 6.8305 to 7.7185 TL; for 501–750 kWh, from 7.3445 to 8.2993 TL; for 751–1000 kWh, from 7.9610 to 8.9959 TL; and above 1000 kWh — from 9.5023 to 10.7376 TL. In the three-phase tariff for residential consumers, from June 1st to October 31st, considered as the “summer period”:

During the period from 23:00 to 09:00, the charge per kWh rises from 4.5027 TL to 5.088 TL. From 18:00 to 23:00, the charge per kWh rises from 6.8305 TL to 7.7185 TL. From 09:00 to 18:00, the charge per kWh rises from 9.4493 TL to 10.6778 TL. It’s noteworthy that the previous increase in electricity tariffs in Northern Cyprus was on March 1st. As of January 1st, 2024, the cost of electricity had risen by 15%.

The new minimum wage was established in Northern Cyprus on May 21st, with a 10-day period for objections. On May 31st, after considering the objections from employers, the new minimum wage was reduced by 120 lira and currently stands at 29,520 Turkish lira.