Cyprus under pressure over power link
Important decisions concerning the Great Sea Interconnector, an electric cable linking Cyprus and Greece, are anticipated in August.
Following a recent visit of the CEO of Greece’s ADMIE, the project’s implementing body, to Nicosia and the presentation of the cost-benefit study, Cyprus is expected to address the outstanding issues.
ADMIE’s concerns about delays have also reached Brussels, where officials were displeased with the Cyprus Energy Regulatory Authority’s (CERA) decision not to allow cost recovery from January 1. After ADMIE’s study received positive feedback, the European Commission has pressured Nicosia to clarify the situation.
A teleconference held on Tuesday, which was attended by the Commission, Cyprus and Greece’s energy ministries, ADMIE and both countries’ regulatory authorities, led to two significant decisions. CERA will review ADMIE’s study and make a regulatory decision; and a follow-up meeting will determine Cyprus’ participation in the project’s equity structure.
A follow-up meeting with the Commission is scheduled for August 12, by which time Nicosia is expected to have made a decision on its participation in the project.
