The work of electrical interconnection comes with a high investment cost and fundamentally affects the energy strategy of the Republic of Cyprus, with socio-economic implications,” stated the Minister of Finance, Makis Keravnos, in a written statement.
In a stern tone and without hiding his annoyance at “continuous and repeated statements that come to light from self-appointed unauthorized representatives of the Minister of Finance,” Keravnos makes it clear that “the Ministry of Finance will take a position regarding Cyprus’s shareholding when presented with a substantiated request with all the necessary evidence and documents.”
This refers to the absence of the required documents and information at present.
He further draws everyone’s attention to the following: “The work of electrical interconnection comes with a high investment cost and fundamentally affects the energy strategy of the Republic of Cyprus, with socio-economic implications. Therefore, a detailed examination of all its aspects based on independent studies is necessary, along with collaboration of all involved parties to make the best decisions for the benefit of the Cypriot electricity consumer.”
The full text of the Minister of Finance’s statement reads:
“Regarding the electrical interconnection project between Greece and Cyprus and following continuous and repeated statements that come to light from self-appointed unauthorized representatives of the Minister of Finance, the Minister of Finance declares that, concerning Cyprus’s shareholding in the Great Sea Interconnector implementation entity, a recent relevant decision of the Council of Ministers is in force, which represents the actual facts and sets the safeguards to protect the interests of the taxpayer.
The work of electrical interconnection comes with a high investment cost and fundamentally affects the energy strategy of the Republic of Cyprus, with socio-economic implications. Therefore, a detailed examination of all its aspects based on independent studies is necessary, along with collaboration of all involved parties to make the best decisions for the benefit of the Cypriot electricity consumer. Continuous, arbitrary statements do not contribute to this direction.
The Ministry of Finance will take a position regarding Cyprus’s shareholding when presented with a substantiated request with all the necessary evidence and documents.”
