The plan of the Electricity Authority of Cyprus (EAC) to launch a smart metering initiative in order to give customers complete control over their power usage has been postponed, Philenews reported on Tuesday.
EAC was due to install 400,000 smart meters within the first months of 2023 – a commitment made before Parliament in December 2022 when it approved the specific budget.
However, under the best conditions, the installation of smart metering can’t be installed before the second half of 2023.
Provided there is no third annulment, by the Tender Review Authority, of the new bidder who was awarded this tender.
The semi-governmental organisation had launched a study into smart metering following the 2011 Mari explosion, which incapacitated the island’s largest power station and sunk Cyprus into a costly energy crisis.
Smart prepaid electricity meters are in operation in most EU member states and are considered a convenient and cost-effective way of consuming and regulating power.
The meters allow consumers to accurately monitor their power consumption from home, consume only what they can afford and top-up electricity at their convenience.
According to the EAC, they are considered extremely useful in rental properties as they offer landlords security that their tenants won’t fall into arrears with their power.
In addition, the meters can be temporarily installed on building sites and other areas of construction which only require power for a fixed period.