The Electricity Authority of Cyprus is examining tariff hikes for 2025 and plans to present their proposal to the energy regulator by July. The organization has cash reserves of over €280 million and plans to upgrade the Dhekelia power station at a cost of €110 million.
The Republic of Cyprus is facing a dilemma due to illegal operation of EAC power plants, risking sanctions from the European Commission. The Environment Department has prepared a report for criminal action against EAC. The revision of the Industrial Emissions Directive may allow a derogation for compliance by 2030. The European Commission has requested information on Cyprus’s intent to apply for a derogation. A meeting with relevant stakeholders will decide on the submission of a request and preparation of an action plan for compliance by 2030.