New study will lock in decision for Great Sea Interconnector, says Energy Minister

Minister of Energy George Papanastasiou has said that there is a decision in principle for the participation of the Republic of Cyprus in the 'Great Sea Interconnector project with some entity in the share capital of up to 100 million euros. But he noted that they are currently in the process of an additional study, which will essentially lock in that decision.

Great Sea Interconnector is a project of electricity interconnection linking Cyprus, Greece and Israel.

Speaking to the press following a meeting he had with a delegation from AKEL party, the Minister referred to the price of fuel and said that the Ministry of Finance is the one responsible for a possible increase.

He clarified however that at the moment there is an assessment based on the obligations we have towards the European Commission.

At the same time, he noted, we need to be vigilant as regards our fiscal policy. But he said that it is important that the consumers are not further affected by high prices.

Papanastasiou said that the Energy Ministry submitted suggestions and proposals to the Ministry of Finance, which should decide by the end of the month if an increase will be imposed and what kind of compensation will be offered if the green tax is imposed.

Bottled water price cap

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Replying to another question about a cap price on water and whether it will include other products, the Minister said that water is at the moment included in the cap decision.

He noted that at some sale points such as airports, stadiums and some hospitals the authorities believe that there should be a price ceiling and it will apply to half-liter and 750ml bottles and the seller should have at least one brand below the ceiling price and there should be sufficient stock on the shelf and fridge of that brand as well.

Replying to another question about statements from the Cyprus Employers and Industrialists Federation and the Cyprus Chamber of Commerce and Industry on the decision, he said that any criticism should be justified. He went on to say that consumers have rights and they should come first.

(Source: CNA)