Meeting between the General Secretary of the C.C. of AKEL and the Cyprus Energy Regulatory Authority (CERA)

 

13 March 2024 AKEL C.C. Press Office, Nicosia

As part of the campaign that AKEL is currently conducting on energy issues and policy, against the background of the high energy costs in both motor fuels and electricity, we had a meeting today with the Cyprus Energy Regulatory Authority (CERA).

CERA’s role is very important both for the functioning of the market and for formulating and establishing the infrastructures that must be in place for the market to function smoothly in the energy sector.

We had a very constructive and enlightening discussion on the existing situation in Cyprus and its prospects in relation to energy. There is a need to create this infrastructure as soon as possible and to have all the necessary procedures in place for the regulation of the market’s operation so that we can move to a competitive market as soon as possible.

At the same time, as these things can take some time, or even a lot of time, AKEL’s proposals to confront the high electricity costs, even for the short term, become even more topical. It is for this very reason that we are once again calling on the government to discuss the specific proposals that we have submitted so that measures are taken which, even in the short term, I stress, will contain, and if possible reduce, energy prices.

We consider it necessary to prolong the measures which are in force until the end of March. I say this because we are coming to the end of March and the government has not yet revealed its intentions as to what it actually intends to do. It is also necessary for the government to come up with a proposal to reduce VAT on electricity from 19% to 9%, as well as to clarify what it plans to do with the issue concerning the taxation of the exorbitant profits of both the banks and the energy companies, so that any revenue that will accrue to the state can be channelled through targeted programmes to provide support to households and businesses in order to strengthen their access to energy.

13.03.2024