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Petrou: EAC is not allowed to develop as it would like - Reasons

Published March 19, 2026, 17:10
Petrou: EAC is not allowed to develop as it would like - Reasons

The President of EAC, Giorgos Petrou, expressed concern about the restrictions and regulations hindering the development of the Electricity Authority of Cyprus. Speaking at a press conference, he stated that EAC cannot develop as it would like, while referring to the possible entry of CYTA into the energy sector and the state's position. Mr. Petrou emphasized that CYTA's involvement in the energy market needs to be carefully considered due to the small size and sensitivity of the Cypriot market, as it could create imbalances and increase the cost of electricity. He also expressed the view that EAC should be able to invest in photovoltaic parks to reduce electricity costs, while accusing the state of lack of support. Finally, he referred to the promotion of other companies to secure photovoltaic licenses.