Cyprus has all the guarantees to become an energy hub in the Eastern Mediterranean, said the President of the Parliament Annita Dimitriou, in her greeting at the 12th Energy Symposium entitled "The big decisions for energy".
He noted that the completion of the electrical interconnection project between Cyprus, Greece and Israel is expected to contribute decisively to the removal of energy isolation, the reduction of electricity costs and the strengthening of the country's energy security. He emphasized the need to speed up the processes for the implementation of the project and increase the penetration of Renewable Energy Sources (RES) in the energy mix and the development of the necessary energy storage infrastructure. Equally important, he said, is the modernization of the electricity transmission and distribution network to support increased electricity generation from RES.
In addition, he said that tackling high energy costs and energy poverty, which affects almost one in five households in Cyprus, must be a priority, as Cyprus ranks second in the European Union (19,3%) in energy poverty levels, according to with data from the European Statistical Service.
In the context of the Recovery and Resilience Plan of Cyprus, as said by Ms. Dimitriou, important reforms have been completed, such as the regulatory framework for energy storage, upgrading the energy efficiency of schools and hospitals, and the market management system to facilitate the opening of the electricity market to competition. He added that a large number of households and businesses have also taken advantage of subsidy schemes to save energy, buy electric vehicles and install solar panels.
"Despite the significant progress made in some areas, there are still significant challenges, which are recorded in the Report on Cyprus, published by the European Commission in June 2024," he said.
He noted that the Report highlights Cyprus' poor performance in promoting sustainable transport, electrification, electric vehicles and charging stations. At the same time, he highlighted the slow progress in the green transition and the reduction of greenhouse gas emissions, as well as challenges in upgrading and expanding the electricity grid.
The President of the Parliament emphasized that the smooth implementation of the milestones included in the Recovery Plan, within the prescribed timescales, is of vital importance. However, as he said, in cases where for objective reasons the milestones are unrealizable, it is necessary to seek to modify the Plan and revise the objectives so that they correspond to today's realities.
The House of Representatives, emphasized Ms. Dimitriou, plays a key role in promoting the green and energy transition of Cyprus, through the timely establishment of the necessary legislative and regulatory framework and the monitoring of progress regarding the fulfillment of Cyprus' national, European and international commitments regarding the European Green Deal Union, the Paris Agreement, the Cyprus Recovery and Resilience Plan and the Sustainable Development Goals of UN.
Equally important, he added, is the contribution of the Parliamentary Committee on Energy, which, in the context of exercising parliamentary control and recording ex officio issues, examined critical energy issues of concern to Cypriot citizens, such as the progress of the implementation of the liquefied natural gas import terminal in Vassiliko, the "Great Sea Interconnector" project for the interconnection of Cyprus-Greece-Israel and the free electricity market, the increase in the price of electricity energy and the problems in photovoltaic installation, energy storage and hydrogen production.
He assured that the House of Representatives, within the framework of its powers, will continue to support the country's green and energy transition in every possible way.
