The Government should increase the Budget for the “Photovoltaic for All” Project

Statement by Christina Nicolaou, Head of Energy and Environment Policy of the C.C. of AKEL

11 January 2024, AKEL C.C. Press Office, Nicosia

The inclusion of a larger share of renewable energy sources (RES) in the energy mix of the semi-governmental Cyprus Electricity Authority (AHK) for the production of electricity is an absolute necessity for the country and consumers. AHK must proceed to make further investments in RES, but especially in energy storage units.

The cost of electricity from RES produced by AHK will be in the range of 5 cents per kilowatt hour. This demonstrates the huge gap in prices compared to other producers and confirms the exorbitant profits for the electricity power companies. It is the government’s duty to channel these profits to society.

AKEL’s proposal for a bill proposal on taxation of windfall profits of companies in the energy sector, which has been tabled in Parliament, remains not only timely but also necessary.

These sums can be channelled into the “Photovoltaic for All” project which the government has been propagating for months, but unfortunately the draft programme far from covers everyone. The draft as published for consultation has several loopholes, excludes SME’s and at the same time has a low budget which cannot cover real needs.

We call on the Government to seriously study AKEL’s proposal which can fund a comprehensive scheme for Photovoltaics for all, covering the needs of society and ensuring reduced electricity costs for consumers. Moreover, it will contribute to reducing our country’s air pollutant emissions, and therefore the costs of fines for pollutants that are being imposed on consumers.

The Government must realise that problems are not solved by promises, but by comprehensive planning that will provide solutions to one of the biggest problems facing consumers – high energy costs.

11.1.2023