Cyprus Times

Auditor General Finds Evidence of Profiteering in the Sale of Renewable Energy Licenses to EAC

Published March 5, 2026, 17:07
Auditor General Finds Evidence of Profiteering in the Sale of Renewable Energy Licenses to EAC

The Auditor General has found evidence of profiteering in the sale of renewable energy licenses from private individuals to the Electricity Authority of Cyprus (EAC), as revealed in an audit report discussed at the House of Representatives' Control Committee. The EAC lags behind in the development of renewable energy sources, having only 20 MW out of a total of 420 MW in Cyprus. The Auditor General highlighted the lack of a strategy for the future of the EAC and the potential for increased electricity costs for consumers. The Chairman of the EAC Board of Directors stated that measures are being taken to correct the identified weaknesses and that they are rapidly proceeding with the installation of smart meters.