ENERGY

Cyprus power market opens up further

Cyprus power market opens up further

Cyprus President Nicos Anastasiades said on Thursday that the Cypriot government will provide all necessary tools to allow the Electricity Authority of Cyprus (EAC) to modernize its operations, as well as to encourage more independent energy providers to operate in the Cypriot market.

President Anastasiades was speaking during a meeting he chaired at the Presidential Palace on the EAC’s progress toward the new competitive environment, which was also attended by Minister of Energy, Commerce and Industry Natasa Pilides and Minister of Finance Constantinos Petrides, a presidency press release said.

He assured that the government’s main concern is to provide electricity to consumers at the lowest possible cost.

“We will provide the necessary tools for the EAC to move forward with its modernization and for independent energy providers to further permeate the market,” said Anastasiades, adding that the aim is to attract more providers in addition to the two that are already operating within the transitional market.

Pilides also said the goal is for the EAC to offer consumers better services at a lower cost.