Power monopoly EAC to split into two on December 1

Photo: Pixabay


September 12, 2016






September 12, 2016





The accounts and operations units of the national power utility will start the separation on December 1, Andreas Poulikkas, chairman of the Cyprus Energy Regulatory Authority (CERA), said last week. The Cyprus Electricity Authority (EAC) is in the final stages of preparation for for the split, he added after presenting the company’s report for last year to president Nicos Anastasiades, as reported by Cyprus Mail.

The document includes results of Cyprus Transmission System Operator (TSO). Puolikkas added the final version of the energy market’s framework will be complete by the end of the year.

The government decided in January to unbundle EAC’s sectors into an entity for power generation and another one for transport and distribution in order to unlock EUR 10 billion from the island country’s bailout package, according to conditions set by creditors. The move was met with initial sharp opposition of trade unions. The split is necessary for the transposition of the European Union’s Third Energy Package into national legislation, part of measures within the Energy Union.

Poulikkas praised the future era the bloc’s overarching energy project and stated regulators produced the methodology of tariffs for the next five years including an 8% return on capital placed in production and 6% in the other segment, with measures to benefit consumers.

Tags: , ,

Related Articles


Serbia’s power utility EPS posts Q1 net loss of EUR 254 million

30 June 2022 - The state-owned power utility is blaming the poor result on a drop in output, electricity imports, and capped prices for end-consumers

EU agrees fossil fuel car ban as climate package talks are starting

EU agrees fossil fuel car ban as climate package talks are starting

29 June 2022 - The Council of the EU and European Parliament are set for talks on the Fit-for-55 package. Both agree new combustion engines should be banned by 2035.

G7 reverses climate policy support LNG gas nuclear power

G7 reverses climate policy with support for LNG, gas, nuclear power

29 June 2022 - The G7 reaffirmed its commitment to climate goals, but it backed the deployment of gas, particularly LNG, and of nuclear power

Romania renewables statistically attributed Netherlands

Romania’s renewables can statistically be attributed to Netherlands

28 June 2022 - The EU enables countries to pay other member states to formally make up for shortfalls in achieving own green energy targets