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Audit Report Criticizes EAC: Weaknesses Impact Electricity Costs for Consumers

Published February 26, 2026, 09:11
Audit Report Criticizes EAC: Weaknesses Impact Electricity Costs for Consumers

The Audit Office has published a special report on the Electricity Authority of Cyprus (EAC), highlighting significant structural weaknesses in the energy sector. These weaknesses have a direct impact on the cost of electricity for consumers. The report points to the delay in the development of Renewable Energy Sources (RES) projects by the EAC and the increase in the cost of greenhouse gas emission rights. The Audit Office proposes immediate and coordinated policy and regulatory interventions from the state, CERA, and the EAC, with the aim of accelerating the energy transition, strengthening competition, and reducing the cost of electricity. In addition, the report mentions weaknesses in the implementation of debt collection procedures, inadequate controls that affect the accuracy of billing, problems in contract management, and malfunctions in customer service. The report also demonstrates issues of compliance with environmental requirements and licensing of production units, which create operational and regulatory risks. The Audit Office calls for immediate action to address these problems in order to ensure the sustainability and efficiency of the energy sector in Cyprus. The Audit Office's report is an important document that highlights the challenges and weaknesses in the energy sector in Cyprus and proposes specific actions to improve the situation.

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