On Monday the price of electricity in Northern Cyprus will increase by more than 20%. News received a negative reaction from consumers and businesses, who are threatening large-scale protests.
Chairman of the Trade Union of Electricity Caglayan Cesurer said: "The price of electricity used up to 250 kW, will increase by 18.42 %. Electricity used between 251 and 500 kW, will increase by 28.85 % in value, and electricity used between 751 kW and more, to increase by 29.23 %. Prices were not properly adjusted for the cost of fuel since 2009. Fuel for the power plant is purchased in foreign currency, which has increased in value against Turkish lira. These factors have prompted officials to impose new electricity prices. Previously, the fuel price was $ 300 per metric ton, but today the price is $600. "
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The Turkish Republic of Northern Cyprus has introduced updated regulations for the acquisition of real estate by foreign citizens
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