Marios Drousiotis highlighted an official admission from the Ministry of Energy, Commerce, and Industry confirming consumers' long-standing complaints about human error affecting fuel price monitoring, resulting in inflated prices.
Speaking on RIK’s Third Channel, the President of the Cyprus Consumer Association also stated that their repeated claims regarding a black market for reselling photovoltaic park installation permits have been validated by Giorgos Papamastasiou's admission before parliament yesterday.
"I would like to thank the Minister of Energy for this statement. Although delayed, he admits that fuel price monitoring has been inadequate," said Marios Drousiotis.
Higher than they should be
"Before and after the Minister's appointment, the association's position, often criticized by the Ministry, was that we were dissatisfied with fuel price monitoring. We called for improved monitoring because fuel prices are higher than they should be," he continued.
He emphasized: "The human factor interferes with monitoring, and mistakes are made, whether intentional or unintentional. Regarding fuel prices, I reiterate, consumers are paying more than they should."
They use excel
Giorgos Papamastasiou’s related statement before the Parliamentary Control Committee is noteworthy: "When I joined the Ministry, I found an outdated system for monitoring fuel prices. Currently, it's done manually using Excel files, and price movement comparisons involve significant human judgment. We are now implementing a new system based on artificial intelligence and algorithms, which will allow us to monitor each supplier and their market behavior."
"I hope the Minister's words become reality," commented Marios Drousiotis, adding that while the process will begin with the March announcement, the next stage is about six months away.
Black market in photovoltaics
"We also issued a statement about the black market in photovoltaics. Since 2018-2019, when applications were submitted, a black market for photovoltaic installation licenses emerged within six months of the application deadline and permit approvals," he added.
"Initially, the profit was around €20,000, then it rose to €300,000, €500,000, and now we are talking about millions. This has been a gradual development," the Consumer Association President continued, also questioning RAEC about the lack of a decision to ban permit resales or a timeline for development implementation.
