Nicosia: First build linkup, then charge
Cypriot electricity consumers should not be burdened with a surcharge before the operation of the electricity interconnector linking Greece and Cyprus and the consequent reduction of electricity costs, Cypriot Minister of Energy, Commerce and Industry George Papanastasiou said on Monday.
Speaking during a press conference to present the ministry’s work over the past year, Papanastasiou said the request of the project’s promoter, Greece’s Independent Power Transmission Operator (ADMIE), over a surcharge to electricity bills in a bid to recover its investment on the 1.9-billion-euro project is being examined by Cyprus’ and Greece’s electricity regulating authorities, “which will decide taking into account the protection of electricity consumer as well.”
“This is a matter of principle. When there’s no cable in operation no one is justified to charge anyone over enjoying this [electricity] flow in the future,” he said.
Acknowledging the multiple benefits for Cyprus when commercial operation starts in 2029, Papanastasiou admitted that the project is considered as high-cost, whereas the influx of renewable energy in the electricity mix depends on the operation of the interconnection.
