18 Cyprus Energy Regulatory Authority Figure 1 - Indicative electricity prices for household consumers in Europe in 20211 In June 2020, the Council of European Energy Regulators (CEER) created an Ad Hoc Working Group (COV WG) to assess the effects of the pandemic on the energy sector. In particular, the Working Group focuses on issues pertaining to the impact of the pandemic on consumption, electricity and natural gas prices, the effects on energy consumers, suppliers and network operators as well as the measures that were taken by governments, regulatory authorities and other stakeholders to contain the pandemic and address its effects. CERA had an active role in the Working Group as it closely monitors the developments and reactions of the other Member States in relation to the impact of the pandemic, but also assists in the provision of information on the effects of the pandemic at national level and the relevant actions and measures taken by CERA throughout 2021. As part of the work carried out by the COV WG Working Group in 2021, a report was prepared with all the national findings at European level and is based on data that was collected from 24 Member States in the period from 1 January 2020 to 30 June 20212. Furthermore, on 17 September 2021, a series of compensatory measures were announced by the Minister of Energy, Commerce and Industry (MECI) of Cyprus, which emerged from a consultation between the Ministries of Energy and Finance, CERA and the Electricity Authority of Cyprus (EAC). These measures include: • Absorption of part of the basic tariffs of electricity network charges by the EAC and a 10% reduction in consumer bills, for the bi-monthly periods of November - December 2021 and January - February 2022. 1 Source: https://ec.europa.eu/eurostat/databrowser/view/nrg_pc_204/default/bar?lang=en 2 https://www.ceer.eu/documents/104400/-/-/4c242433-bbba-cb27-ca23-74e6d60be22a
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