Reactions continue to pour in from the business and industrial communities in response to the unsubstantiated demand made by the leader of Direct Democracy and Member of the European Parliament, Fidias Panagiotou, and the much-publicizedchallenge to the President of the Republic to reduce electricity prices by 20%.
In a post on Platform X, KEBE Secretary-General Philokypros Rousounidis points out that “On such a serious and complex issue, we need solutions and responsibility, not easy answers and scapegoating.”
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“Justified concern over high energy costs must not, in a climate of populism, into a blanket condemnation of businesses or entire sectors, which, through their overall contributions, are a credit to the business community. The economy needs healthy and competitive businesses, clear rules, and substantive reforms—not scapegoats.”
READ ALSO: KEVE Calls for an Energy Plan with Timelines to Lower Electricity Prices
On such a serious and complex issue, we need solutions and accountability, not easy answers and scapegoating.
Justified concern over high energy costs must not be turned, in a climate of populism, into blanket condemnation of businesses or entire… https://t.co/iuc7vl2Uwf
Advertisement— Philokypros Roussounides (@R_Philokypros) August 26, 2026
Moreover, the need to accelerate specific reforms and measures that can contribute substantially to the gradual reduction of electricity costs is emphasized by the Cyprus Chamber of Commerce and Industrial Chamber (KEBE) in a statement, 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 key prerequisite for improving the economy’s competitiveness, supporting households, and attracting new investments to the country,” the statement reads.
The CEB expresses the view “that addressing this issue requires a coherent energy policy plan with clear priorities, timelines, and measurable results.”
Noting that the 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 measures to address these challenges.
SEE ALSO: Reactions to Fedia’s challenge: The government, ETEK, and OEB respond that he is oversimplifying a complex issue
Specifically, it calls for accelerating the introduction 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.
