Cyta energy plans will focus primarily on households and small businesses that currently have limited options, while the organisation insists it does not intend to become a competitor to the Electricity Authority of Cyprus (EAC).
Speaking on state radio, Cyta chairwoman Maria Tsiakka said the organisation hopes for swift discussion and approval by the House of Representatives of a bill that would allow Cyta to expand its activities into the energy sector.
No competition with EAC
Ms Tsiakka stressed that Cyta does not plan to challenge EAC’s dominant role in the energy market and may even deepen cooperation with it. She noted that EAC is expected to remain Cyprus’ main electricity provider, despite the gradual opening of the energy market.
“I do not believe there should be an issue with EAC, with which we already have very good cooperation on various levels,” she said, adding that this cooperation could continue once the bill is approved.
She also pointed out that both organisations share the same owner – the state – allowing public authorities, through institutional oversight and budget approvals, to ensure that decisions serve the wider public interest.
Focus on households without alternatives
According to Ms Tsiakka, Cyta’s involvement in the energy sector will be highly targeted. The main aim is to provide electricity solutions to households and small businesses that are unable to install photovoltaic systems, such as residents of apartment buildings.
She cited young couples living in apartment blocks and occupants of older buildings that lack the infrastructure required for solar installations as key target groups. These households, she said, cannot benefit from government schemes currently available to homeowners, often implemented in cooperation with EAC.
Renewable energy and lower costs
Cyta’s plans focus on supplying electricity generated from renewable energy sources. In practical terms, this would initially involve a mix of developing Cyta-owned renewable parks, collaborating with other renewable energy producers – including EAC – and investing in energy storage solutions.
Ms Tsiakka said the objective is to offer electricity at lower prices than those currently available. While acknowledging that costs may not match the savings achieved through private photovoltaic systems, she expressed hope that prices would be “significantly cheaper than today”.
Combined packages and next steps
Looking ahead, Cyta also plans to introduce combined packages that could include energy, telecommunications and smart technology solutions for homes, such as automation and digital upgrades.
Ms Tsiakka said she sees no reason for parliament to delay consideration of the bill, noting that once approved, Cyta would still need time to implement its plans, possibly starting with pilot projects.
She also observed that while the energy market is already open and includes many private providers, most have focused on large commercial and industrial consumers rather than households, a gap Cyta aims to address.
Also read: New era in Cyprus electricity market begins
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