Cyprus will launch its Competitive Electricity Market on 1 October, marking a significant shift in the country’s energy sector, the Cyprus Energy Regulatory Authority (CERA) has announced.
The new system is designed to create a fully liberalised electricity market, where producers, suppliers and consumers will be free to negotiate directly with each other through bilateral agreements. This means electricity generated and fed into the grid can be managed and compensated based on agreements between the parties involved, rather than through a centrally controlled system.
According to CERA, from 1 October, consumers who are not already part of existing government energy schemes will gain more flexibility. They will be able to act as “active customers” or self-consumers of renewable energy, deciding how to manage surplus electricity from their own production systems. This surplus can either be handled through bilateral agreements with suppliers or through aggregators participating in the competitive market.
Consumers already tied to government energy plans will remain under their existing contracts. When those contracts end, they can either move into a net billing arrangement with their supplier—on terms they agree between them—or choose to operate under the new competitive system.
CERA noted that the full framework for consumer participation is outlined in its Regulatory Decision No. 02/2024, published earlier this year. The authority encouraged anyone interested to consult the decision to fully understand their rights and options in the new market.
(source: CNA)
