ECONOMY

Cypriot electricity market opening

Cypriot electricity market opening

Cypriot President Nicos Anastasiades is satisfied with the timetable as regards the opening of the competitive electricity market, set to launch in the fall of 2022, according to a written statement by deputy government spokesperson Niovi Parisinou.

The statement followed a meeting between the president on Monday and the energy minister, the Energy System Operator head, the Cyprus Energy Regulatory Authority (CERA) Board and other officials.

During the meeting all participants agreed that works move ahead according to plan and it was pointed out that the government is determined to take all the necessary actions so that there is a smooth opening of the electricity market for the benefit of consumers.

The project of installing the Management System of the Competitive Electricity Market is included in the Recovery and Sustainability Plan with funding of 4.7 million euros. The President of the Republic praised the excellent cooperation between the Cyprus Transmission System Operator, CERA and the Electricity Authority.