NewsLocalOpening up of electricity market in Cyprus once again pushed back

Opening up of electricity market in Cyprus once again pushed back

Not only the much-trumpeted opening up of the electricity market in Cyprus was once again pushed back but no one seems to know when the stumbling blocks will be lifted.

This is the conclusion reached after Tuesday’s debate on the hot issue before the House Energy Committee, Philenews reports.

Initially the government had promised to open up the electricity market by July 2014, then July 2016, July 2019, and December 2020. The latest timeline cited was October 2022, but this is far from possible as well.

And legislation for the total independence of the Cyprus Transmission System Operator (TSO) under whose jurisdiction comes the supervision of the operation of the competitive market was approved by Parliament on time.

Nonetheless, regulations based on which the Administrator will be staffed to carry out the necessary workload have not yet been submitted before Parliament.

The regulations were sent by the Energy Ministry to the Republic’s Legal Office in July but appear to be in need of amendments.

And even if the regulations are approved fast enough it will take some time before the Administrator’s office gets staffed and operate fully independent.

Top Stories