Electricity

New Cypriot government’s first priority is to reduce electricity costs

New Cypriot government first priority reduce electricity costs

Photo: Presidency of the Republic of Cyprus

Published

March 2, 2023

Country

Comments

0

Share

Published:

March 2, 2023

Country:

Comments:

0

Share

The primary concern of the government of new Cypriot President Nikos Christodoulides is to reduce electricity costs, Minister of Energy, Commerce and Industry George Papanastasiou said. In the transitional period toward green energy, the country will have to use natural gas, he pointed out.

Minister of Energy, Commerce and Industry Natasa Pilides handed over the duty to her successor George Papanastasiou. The business executive received the portfolio as a member of new Cypriot President Nikos Christodoulides’s government.

“Without cheap energy, you cannot have a good and stable economy,” he stressed, adding that the cabinet’s primary concern is to lower electricity costs to help the industry and the economy. Cyprus needs to shift to green energy, Papanastasiou said.

Papanastasiou The results in the energy sector haven’t been so good, due to external factors

“However, until we get to green energy, we will have to go through a transition period in which we will use natural gas,” the minister pointed out. The fuel will probably come “from the region,” he asserted, apparently hinting at Israeli offshore gas, Phileleftheros wrote.

While the industry and trade are doing very well in Cyprus, the results in the energy sector haven’t been so good due to external factors, George Papanastasiou said. He vowed to make the goals realistic and measurable.

Pilides noted that the ministry has secured EUR 590 million for projects and grants for the period 2021-2027.

Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Global energy sector emissions hit record high 2023

Global energy sector emissions hit record high in 2023

04 March 2024 - Droughts limited hydropower production last year, so emissions in the energy sector reached a third consecutive record high, IEA said

Kosovo measure wind potential auctions public projects

Kosovo* to measure wind potential for auctions, public projects

02 March 2024 - Kosovo* is about to measure wind potential to present the data to foreign investors or develop public projects

Nikšić from solar and wind can produce enough electricity for the entire Montenegro

Solar, wind parks around Nikšić could power entire Montenegro

01 March 2024 - Solar and wind power plants in optimal locations in Nikšić could cover the electricity consumption of all households in Montenegro

dodik buk bijela hydropower montenegro mandic

Republic of Srpska offers Montenegro to join Buk Bijela hydropower project

01 March 2024 - President of the Republic of Srpska Milorad Dodik offered to Montenegro to join the construction of the Buk Bijela hydropower plant