FAMAGUSTA GAZETTE – The Government of Cyprus is seeking a fundamental change in the electricity market.
Guided by a European Union directive, the executive branch has submitted an amending bill to Parliament, reports local media.
The discussion of this bill will begin on Tuesday in the Energy Committee, aiming to address weaknesses identified in all sectors of the electricity market.
According to sources from the Ministry of Energy, the bill includes provisions for the protection of consumers, especially the vulnerable.
It also introduces flexible grid connection agreements for investors and provides consumers with the opportunity for fixed-term contracts for the supply of electricity at a fixed price.
Additionally, the Transmission System Operator will be able to develop and manage storage facilities.
This initiative is part of a broader effort to create a more integrated, competitive, and consumer-focused electricity market in Cyprus, ensuring affordable and transparent prices for consumers while enhancing the security of supply and supporting the transition to a lower carbon energy system.