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What is the annual price adjustment clause?
The annual price adjustment clause refers to the inflation price adjustment contractual provision that allows prices or other charges to be adjusted periodically based on the relative change in value of one or more established price indices. In Epic’s subscriptions contracts, the price adjustment clause is clause 6 of the Terms & Conditions of internet and fixed voice telephony services and clause 4(e) of the Terms & Conditions of mobile subscription services. At Epic we use the inflation rate published by the Statistical Service of the Republic of Cyprus.
How does this affect you?
On 1 February of each year, Epic shall be entitled to adjust all charges (including the price of the Subscription Plan, charges for any additional services, roaming charges and any out of bundle charges) by an amount equal to the annual Consumer Price Index inflation rate (https://www.cystat.gov.cy/en/SubthemeStatistics?s=47) (“Inflation Rate”) published by the Statistical Service of the Republic of Cyprus in the preceding January. Epic will communicate any such adjustment to the subscriber.
The adjustment will be calculated by multiplying the relevant charge individually by the Inflation Rate percentage and will be rounded up to the nearest whole cent. The price adjustment will apply on February invoices each year, unless Epic in its sole discretion chooses not to apply the relevant adjustment.
If your plan started on or after 4 February 2022:
Your monthly Subscription Plan price may increase on 1 February 2023 by an amount equal to the Inflation Rate published by the Statistical Service of the Republic of Cyprus in the preceding January so if, for example, the Inflation Rate increased by 2% then your Plan price will be adjusted as below:
|Current Plan||Inflation Increase (2%)||Total payable from 1 February 2023 onwards|
If your current plan started before 4 February 2022, you will not be affected by the price adjustment clause until your plan is renewed.
Other details you should know?
In the event that the Inflation Rate is negative (-), this will be treated as being 0%. The adjustment to charges as a result of this annual increase is not a change or an amendment to the terms and conditions of your subscription contract. If the Inflation Rate ceases to be published by the Statistical Service of the Republic of Cyprus, the calculation will be made on the basis of the replacement index chosen by the Republic of Cyprus or a similar index communicated to you by Epic.