The Cyprus Chamber of Commerce and Industry (KEBE) emphasizes the need to accelerate specific reforms and measures that can contribute substantially to the gradual reduction of electricity costs,(CCCI), noting that energy costs remain a critical issue for the competitiveness of the Cypriot economy.
“Reducing energy costs is a long-standing demand of the business community and, at the same time, a fundamental prerequisite for improving the economy’s competitiveness, supporting households, and attracting new investments to the country,” the statement reads.
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The CCCI expresses the position “that addressing this issue requires a coherent energy policy plan with clear priorities, timelines, and measurable results.”
Noting that energy challenges are linked to Cyprus’s dependence on imported fuels, the cost of emissions, and delays in the implementation of major energy projects, he calls for a series of actions to address these challenges.
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Specifically, it calls for accelerating the development and utilization of natural gas for electricity generation, faster development of electricity storage infrastructure to maximize the use of renewable energy sources, upgrading and modernizing electricity transmission and distribution networks, reducing restrictions and curtailments on energy production from photovoltaic systems, accelerating the full implementation of a truly competitive electricity market model, boosting investment in energy efficiency projects for businesses and households, and simplifying the permitting procedures for energy projects and renewable energy projects.
