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Cyprus TSO Budget of €67.3 Million to be Discussed in Parliament, €50 Million for Energy Storage

Published March 2, 2026, 16:40
Cyprus TSO Budget of €67.3 Million to be Discussed in Parliament, €50 Million for Energy Storage

The budget of the Cyprus Transmission System Operator (TSO) for 2026, amounting to €67.3 million, is before the Plenary of the Parliament for approval. The majority of the budget will be covered by investments of €50 million in energy storage systems, funding originating from the European Union. The TSO’s Operations Market Manager, Dr. Konstantinos Varnavas, emphasized the need for staffing the organization and finding suitable premises. 2025 was a significant year for the TSO, as it received independence certification from the Cyprus Energy Regulatory Authority (CERA) and the competitive electricity market was launched. The recruitment of 23 employees is ongoing, while 5 of the 22 employees of the Electricity Authority of Cyprus (EAC) who were transferred to the TSO have already returned, with the prospect of the rest returning, aiming to staff the National Energy Center. EAC employees remain temporarily to transfer expertise to new employees. The TSO currently leases two buildings, while a relocation to an owned building is being promoted. The installation of storage systems is expected to contribute to reducing energy curtailments from renewable sources and improving the operation of the electricity system. Discussions in Parliament also concerned the economic benefit for consumers.