NICOSIA, Cyprus — Consumers will not notice immediate changes following the launch of Cyprus’s Competitive Electricity Market, according to Konstantinos Varnavas, Director of Transmission System Operations.
Speaking to state radio, Varnavas described the market as complex and said its full benefits will take time to materialize.
“The goal is to attract investment, offer supplier choice, and tailor pricing to consumer needs,” he said.
The wholesale market officially began operations Wednesday, with the first financial transactions scheduled Thursday through the clearing body, the Cyprus Stock Exchange.