Cyprus Times

Hadjigiannis Alleges "Institutional Fraud" in Electricity Market

Published January 13, 2026, 15:12
Hadjigiannis Alleges "Institutional Fraud" in Electricity Market

Kyriakos Hadjigiannis, Chairman of the Parliamentary Committee on Energy, has accused "institutional fraud" in the electricity market, arguing that the current framework systematically hinders the development of Renewable Energy Sources (RES) and energy storage. During a discussion of a bill to regulate the electricity market, Mr. Hadjigiannis stated that the delay in completing the legislation maintains a "black market for licenses" and keeps electricity prices high for consumers, while simultaneously favoring polluting energy sources such as fuel oil. Furthermore, he denounced the double charging of network usage fees for energy storage, increasing costs by approximately 12%, while available storage capacity remains unutilized. Mr. Hadjigiannis questioned the justifications for the delay in licensing, rejecting the argument of network security and claiming that harmonization with European directives is fragmented and incomplete. He argued that maintaining the status quo serves specific interests, to the detriment of the national economy and consumers. He expressed concern over the lack of strong reactions at the political and social levels, given the seriousness of the situation. The bill under discussion concerns the setting of conditions and time validity for the extension of a license or exemption from the obligation to hold a license from CERA, for the construction of power generation stations or autonomous energy storage facilities. Mr. Hadjigiannis emphasized the need for immediate storage, network improvement and substantial penetration of RES in Cyprus.