The staff of the Electricity Authority of Cyprus (EAC) recently started replacing electricity meters in Cypriot households.
The work is proceeding normally. According to the authority, the installation only takes 20 minutes. At the same time, residents pay nothing. All replacement costs are covered by the EAC.They do not have to make any applications or sign any documents - they just have to wait for the specialists to come and install a new meter to replace the old one.
However, there is one important point: the electricity is temporarily switched off while the device is being connected.This process takes no more than 20 minutes.Once the work is complete, EAC's specialists restore full power.
The installation of smart meters is expected to completely change the system of electricity consumption in the country.The new equipment is expected to cover 500,000 homes across the island.
It is worth noting that due to the constant delays in the implementation of the project, Cyprus lost almost €35 million for its financing from the Recovery and Sustainability Fund. The money, incidentally, was earmarked for the purchase of 'smart' meters from CYTA. However, thanks to the efforts of officials and adjustments, the project received the necessary funds for implementation.At the same time, the total cost of the scheme is estimated at €50 million.The rest of the costs, including installation, will be covered by EAC reserves.
According to the EAC, the new smart meters offer a number of advantages over older models. Key benefits include:
- Real-time consumption tracking. With smart meters, users can see how much energy they are using at any given time.This helps them adjust their habits, such as switching off unnecessary appliances or using energy-efficient equipment to reduce their energy bills.
- Savings through flexible pricing.Energy companies offer tariffs that vary according to the time of day.Users can reduce costs by shifting energy-intensive tasks (such as washing or heating water) to periods when tariffs are lower.
- Transparent energy bills. With smart meters, you no longer need to rely on estimates or forecasts. Every bill is based on accurate actual consumption data, eliminating errors and misunderstandings.
- Quickly identify and fix faults. Advanced meters automatically notify suppliers of network faults. This speeds up the diagnosis process and enables power to be restored more quickly.
- Prepayment option. For tenants or those who want to better control their costs, smart meters offer a prepayment system. This allows you to use exactly as much energy as you have paid for in advance, avoiding overpayments.
- Fighting electricity theft. New technologies make it easier to detect illegal connections to the grid. This not only helps energy companies, but also prevents overpayments by conscientious consumers.
It should be remembered that electricity is one of the most expensive items of expenditure in Cyprus.In winter, the bill for a one-bedroom apartment can reach 200-300 euros per month, due to water heating and heating. In summer, the amount is slightly less. As Cyprus buys fuel oil for power stations, the cost of electricity is directly linked to fluctuations in the price of oil.As the price of oil rises, so do electricity bills and vice versa.
