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Cyprus Electricity Market Association Discusses Competition Enhancement with Minister

Published March 2, 2026, 14:09
Cyprus Electricity Market Association Discusses Competition Enhancement with Minister

The Electricity Market Association (EMA) met with the Minister of Energy, Commerce and Industry, Michalis Damianou, to discuss the operation and future of the Competitive Electricity Market (CEM). The EMA presented its role as a representative of companies operating in the CEM and emphasized its contribution to creating a competitive and sustainable energy environment. During the meeting, distortions and operational problems observed in the CEM since its inception were highlighted, as well as the need to strengthen competition and reduce electricity prices for the benefit of consumers. The EMA proposed the creation of a permanent working group with the participation of all relevant stakeholders, to institutionalize consultation and address problems promptly. Particular emphasis was placed on the progress of the terminal implementation in Vasiliko, which was characterized as a project of strategic importance for Cyprus's energy transition. The discussion focused on the schedule, production costs, and the project's role in the country's energy sufficiency and security. The EMA assured that it will continue to cooperate with the government, promoting evidence-based positions and proposals for a safe, competitive, and sustainable energy future. This meeting is part of the efforts to improve the functioning of the electricity market and ensure affordable energy for consumers.

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