AKEL discussed ways to reduce electricity prices and the role of the Cyprus Electricity Authority

Statement by General Secretary of the C.C. of AKEL S.Stefanou after the meeting with the Board of the Electricity Authority AHK

28 September 2021, AKEL C.C. Press Office, Nicosia

We had a very interesting meeting today, following on from the previous meetings we have had, with the Board of the semi-governmental Cyprus Electricity Authority (AHK), but also with the management staff and officials of the Organisation, which is the biggest in Cyprus and I would say of exceptional importance because it concerns our country’s energy policy. A country that is isolated in the Eastern Mediterranean; an island semi-occupied by Turkey. AHK faces numerous challenges.

Of course, the subject for the meeting was the issue of the sharp increase in the price of electricity, which is primarily due to the big increase in the price of fuels internationally, both fuel oil and diesel, which is basically what AHK produces electricity with.

AKEL believes that if projects were being done earlier, with government responsibility, things would be better. As is the case, for example, with the issue of bringing in natural gas for power generation purposes. We are lagging very far behind as a country and that responsibility lies with the government.

On the occasion of course of the energy issue, as it is evolving in Cyprus, but also across the whole of Europe, which is currently having very intense discussions to see what to do in view of a possible crisis because of the very sharp increase in the price of both liquid fuels and natural gas. We also discussed the energy planning that needs to be in place, as well as AHK’s planning regarding its role in this very critical field. Besides the coming of Natural Gas, there are also the issues related to the promoting of renewable energy resources for the production mix of AHK, for competitive bidding that must be done for both renewable energy, as well as storage issues.

At this point, we have some comments on the policies we have heard the government is trying to promote. AHK must not be in a detrimental position. It must be able to participate on an equal basis in the tenders so that it can play its role as a balancer, but also as the decisive factor in our energy issues that ultimately affect the price of electricity that both consumers and society are called upon to pay.

We said that we would continue this dialogue. AKEL always supports these efforts to have a robust AHK so that it plays a decisive role in our country’s energy affairs. We believe that AHK must assert for itself what it is entitled to.