{"id":11747,"date":"2024-05-14T12:00:27","date_gmt":"2024-05-14T09:00:27","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=11747"},"modified":"2024-05-14T12:00:27","modified_gmt":"2024-05-14T09:00:27","slug":"cost-benefits-of-electricity-cable-expected-by-end-of-month","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=11747","title":{"rendered":"Cost-benefits of electricity cable expected by end of month"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/05\/cost-benefits-of-electricity-cable-expected-by-end-of-month.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>The first results of the <strong>cost-benefit study<\/strong> requested by the energy ministry for the Greece-Cyprus Great Sea Interconnector electricity project are anticipated <strong>to be unveiled by the end of May<\/strong>, according to an announcement released on Tuesday by Greece\u2019s Independent Power Transmission Operator (Admie).<br \/>\nThe Great Sea Interconnector \u2013 formerly the EuroAsia Interconnector \u2013 is the commercial name given to the mooted undersea cable linking the grids of Cyprus, Greece and Israel.<br \/>\n<strong>The cost-benefit study was requested by Energy Minister George Papastasiou<\/strong> in a letter addressed to Admie dated April 2, 2024.<br \/>\n\u201cIn response to the request for information from Cyprus\u2019 energy ministry regarding the progress of the study, meetings between the Admie operators and officials from the energy and finance ministries [of both Cyprus and Greece], are scheduled to take place in the immediate future,\u201d the announcement said.<br \/>\nAdmie also stressed that for the project to be sustainable, the remaining regulatory decisions pending from both Greek and Cypriot regulatory authorities need to be promptly addressed.<br \/>\n<strong>\u201cAny further delay will burden electricity consumers in both countries,\u201d<\/strong> it added.<br \/>\nAt the same time, Admie welcomed as a positive development for the Great Sea Interconnector the stance taken by the Regulatory Authority for Energy, Waste and Water (RAEWW) in recent days regarding the entry methodology for the interconnector.<br \/>\n\u201cIt marks a significant milestone for the smooth implementation of the project,\u201d Admie said.<br \/>\n\u201cThe consultation process is set to be completed before the end of May,\u201d the announcement said. \u201cAdmie will submit its comments in the coming days, within the framework of the consultation, regarding the methodology initially proposed to RAEWW.\u201d<br \/>\nLast month, Papanastasiou assured that \u201cCypriot consumers should not pay anything for the Great Sea Interconnector until the project is up and running.\u201d<br \/>\n\u201cIt\u2019s a matter of principle,\u201d he said. <strong>\u201cAs long as the cable is not operational, no one is justified in charging for future electricity flows.\u201d<\/strong><br \/>\nThe project, which is set to cost \u20ac1.9 billion, is expected to go operational in 2029. Given the multiple benefits that come with it \u2013 unlocking capacity for renewables \u2013 the expenses should be paid off quickly after it goes live.<br \/>\nAs it stands, Cyprus will bear 63 per cent of the cost, and Greece 37 per cent. This is because the benefits to Cypriot consumers are far greater.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fact: The first results of the cost-benefit study for the Greece-Cyprus Great Sea Interconnector electricity project are anticipated to be unveiled by the end of May.<\/p>\n","protected":false},"author":3,"featured_media":11748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[8625,8575,6497,6595,2021,9916,3,5193,3818,553,2824,7518,9917,358,7517,3644,569,8903,8314,4081,250,3330,3792,747,299,5319,2257,3331,2797,1004,3840,4753,8183,2331,2871,8257,3260,884,962],"class_list":["post-11747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-april","tag-authorities","tag-benefit","tag-capacity","tag-consumers","tag-cost-benefit-study","tag-cyprus","tag-decisions","tag-development","tag-electricity","tag-electricity-cable","tag-electricity-flows","tag-electricity-project","tag-energy","tag-energy-minister","tag-expenses","tag-finance","tag-follow","tag-framework","tag-future","tag-google","tag-google-news","tag-great-sea-interconnector","tag-greece","tag-israel","tag-letter","tag-meetings","tag-news","tag-positive-development","tag-power","tag-progress","tag-project","tag-released","tag-renewables","tag-request","tag-response","tag-sea","tag-waste","tag-water"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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