Overview

Epigrammatic working principle of Net Billing

Net Billing is the method that calculates the difference between the purchasing cost of electricity from the Electricity Authority of Cyprus grid, (based on the tariff that the consumer is), and the credit from the selling price of the excess electricity produced by the PV system, and is therefore injected to the grid.

Specifically, if the production is greater than the needs, the excess energy is injected to the EAC grid with avoidance costs. If the consumption is greater than the production, the additional needs are covered by the EAC grid. The financial benefit from the credited power units can be used to cover part or even the total cost of the energy imported from the grid.

In the event that the benefit resulting from the exported electricity does not exceed the cost of electricity imported by the EAC, the consumer will pay the monetary difference. In case the benefit resulting from the exported electricity exceeds the cost of the imported electricity, the excess amount of money will be credited for the next billing period.

If any cash surplus arises at the end of a period of 12 months (October-October), it will be written off without compensation to the consumer.