IPTO to present new data on Great Sea Interconnector to Cyprus Regulatory Authority

The Independent Power Transmission Operator of Greece (IPTO) has been invited to the Cyprus Energy Regulatory Authority (RAEK) on Monday, 15 July in relation to new evidence on the basis of which it has requested a review of the Cypriot regulator's decision not to allow Cypriot consumers to be charged before the implementation of the Great Sea Interconnector project, a subsea electric cable connecting Greece and Cyprus.

This was announced by RAEK Chairman Andreas Poullikkas who was speaking before the Parliamentary Energy Committee on 9 July

Energy Minister George Papanastasiou said during the session that the government has also requested the Nexans contract, which has not been given to date, and that the cost-benefit study which is expected to be delivered by IPTO on 11 July will be evaluated by experts so that the final investment decision can be taken. The study has also been requested by EAC, as its President George Petrou said, so that it can be studied by its scientific staff.

Speaking before the Committee, the Energy Minister said that the Ministry respects RAEK and has never made any intervention, while of course following the project closely.

"At this stage we are focusing on the part of the interconnection called Cyprus-Crete and everything that has seen the light of day with regard to costs, contracts etc., relates to the Cyprus-Crete part" he indicated.

RAEK Chairman Andreas Poullikkas presented before the Committee the negative decision it took (215/2024) to the request of IPTO, which, he said, caused IPTO’s reaction, which requested a review of the decision by filing a request and citing new evidence.

"We have invited IPTO on Monday, July 15 to our offices so that we can listen to them, understand what the new evidence is so that the RAEK can go ahead and study both the letter sent by IPTO and its claims, and decide whether indeed the new evidence justifies any change in RAEK's decision," he said.

On his part, Committee Chairman Kyriakos Hadjiyiannis said that "we do not agree with passing on such a high cost to consumers without being informed" and spoke of provocative demands on the part of IPTO.

"We are not opposed to the interconnection and the project. However, it is very dangerous without knowing the final cost of the project to ask the Cypriot consumer to repay it without knowing if it will ever work and if it does work when this will happen and what the final cost will be," he added.

(Source: CNA)