Applications for the net metering scheme for photovoltaic systems will be accepted until the end of the year, Energy Minister George Papanastasiou has said.
At the same time, he said that two more key reports on the progress of the liquefied natural gas (LNG) terminal project in Vassilikos are expected, with the first due in the coming days.
Speaking to CNA, Papanastasiou explained that under the net billing scheme, which will replace net metering for new solar PV installations, any surplus electricity generated by rooftop systems and not consumed is sold to the Electricity Authority of Cyprus (EAC) at a fixed price. By contrast, under the existing net metering system, excess energy is fed into the grid and consumers are billed separately for their grid usage.
He noted that all EU countries have already abolished net metering. The initial intention of the Energy Ministry, he said, was to do the same in Cyprus as of August 1. However, following numerous requests from citizens for an extension until October 1, the Ministry decided to grant that request.
“But since the competitive electricity market begins on October 1, we decided not to introduce further changes then, so the extension for net metering is granted until the end of the year,” Papanastasiou added. As a result, the Renewable Energy and Energy Saving Fund will continue to accept applications for subsidies until the end of the year, meaning not beyond January 1, 2026.
The Minister also clarified that those already under the net metering scheme will remain in it until the expiry of their contract, though consumers can switch to net billing if they find it more financially advantageous.
Third report on Vassilikos LNG terminal expected within days
Replying to a question from CNA about the LNG terminal in Vassilikos, Papanastasiou said that two significant reports have already been delivered to ETYFA (Natural Gas Infrastructure Company), outlining the project’s progress.
He added that a third report, an engineering review, is expected in the coming days, while a fourth report—a gap analysis of materials already installed or purchased for installation—will follow. He explained that a flow of reports to ETYFA began at the end of August.
“ETYFA has essentially determined how to move forward with the project correctly, but the project consultant continues to provide reports to the company,” he noted.
Asked about the fourth report, Papanastasiou estimated that it would be ready in about two months.
(Source: CNA)
