Newsroom
The Electricity Authority of Cyprus says electricity prices are unlikely to fall in the near future, with officials pointing to delays in large-scale solar development and the continued absence of natural gas infrastructure as major factors keeping costs high.
Speaking on Thursday, EAC Board Chairman Giorgos Petrou said the authority has increased electricity generation capacity by at least 80 megawatts this year and does not expect supply shortages unless unexpected technical failures occur. He added that new generators are scheduled to be installed starting in 2028 to help secure future electricity demand.
Petrou explained that some generators currently operating at EAC substations are more than 40 years old, although maintenance work has already been completed on the aging equipment. He said the system should remain stable if both substations continue operating normally.
On electricity prices, Petrou said meaningful reductions will depend on two developments: the expansion of EAC-owned solar parks and the arrival of natural gas. Until the authority acquires photovoltaic facilities on a significant scale, consumers should not expect lower power bills, he said.
Petrou also commented on reports related to the cost of electrifying a development project in the community of Trozena. He said any agreement to divide expenses between local communities and private investors would be handled by those parties directly, while the EAC would continue to charge the required amount for the infrastructure work.
Trade unions representing EAC workers repeated calls for state-backed investment in the country’s energy network. Kyriakos Tafounas said workers are pushing for upgrades at the Dhekelia power station and for support that would allow the authority to build its own solar parks and reduce production costs over time.
Union representatives also referred to proposals submitted by the EAC regarding desalination infrastructure in Vasiliko and Moni. According to Tafounas, the authority has repeatedly proposed large-scale desalination units since 2018 as a response to ongoing water shortages.
The unions warned that labor measures could intensify if no progress is made. Tafounas said no timeline has been set for ending the actions and criticized the government for failing to provide concrete solutions during a recent visit by the Energy Minister to the EAC.
