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The Cypriot government will open a competitive electricity market on October 1, 2025, aiming to provide citizens and businesses with more affordable and reliable power while accelerating the island’s shift toward renewable energy.
President Nikos Christodoulides said the move marks a new era for Cyprus, ending a prolonged transitional system that kept prices high and limited competition. By modernizing the electricity grid, connecting renewable energy sources, and digitizing the network, the government hopes to reduce energy costs, strengthen the economy, and improve energy security.
The strategy is part of a broader plan to increase renewable energy in the electricity mix from 24% today to a targeted 33% by 2030, while encouraging household and business participation through incentives and simplified licensing procedures. Christodoulides emphasized that energy transition is not optional but a societal obligation, essential for future technologies and economic competitiveness.
Officials have also streamlined planning and building approvals for energy storage projects, launched a digital platform for licensing, and are actively supporting both large-scale and small-scale renewable initiatives. The government says these steps reflect political will and coordination with private and public sectors to ensure fair prices, efficiency, and long-term benefits for all Cypriots.
