ENERGY: Electricity interconnectors to lift isolation of Cyprus

The island’s twin electricity interconnector projects, the EuroAsia Interconnector and EuroAfrica Interconnector, will contribute to the energy mix of Cyprus and ensure security of supply, the regulator said.

Delivering his report to the President Nicos Anastasiades, CERA chief Andreas Poullikkas said the Euro-Africa and Euro-Asia Interconnectors are expected to lift Cyprus’s energy isolation and make it an energy hub.

The President was briefed on progress of the Euroasia interconnector and Euroafrica interconnector electrical interconnections, since they can provide our country with the appropriate infrastructure to lift Cyprus’ energy isolation and make Cyprus an EU electricity hub involving Israel and Egypt, said Cyprus Energy Regulatory Authority chief Poullikkas.

He said “in 2018 we continued the work for energy reform within the European framework of energy union”.

Poullikkas added that in 2018, CERA issued key regulatory decisions, including the installation of smart metres, gas pricing in Cyprus and the introduction of electricity storage facilities.

He added that in terms of electricity adequacy, it is expected that from 2022 to 2024 the conventional production deficit is expected to increase due to demand. He noted, however, that this deficit is expected to be covered by conventional producers.

Poullikkas said that for the first time, CERA has licensed 13 suppliers to enable them to operate in the market, thus providing consumers with alternative suppliers.

Receiving the CERA report, President Anastasiades said, “we are in the process of achieving the important goal of market liberalisation, gas supply, creating conditions so that we are more dependent on renewable energy sources (RES) and not on costly or polluting technologies.

What I want to assure you of, especially as regards the advent of gas, is that we are now definitively implementing a decision that will allow us to reach the target by 2021, at least on the basis of the bids we have.

Anastasiades said he wants to deliver a country completely free from polluting technologies, from monopolies, from situations that unfortunately affect both the economy and households.

In the annual report for 2018, CERA describes the EuroAsia Interconnector as a European Union ‘project of common interest’ for the cluster of projects Israel – Cyprus – Greece between Hadera (Israel) and Attica region (Greece) via Kofinou (Cyprus) and Korakia (Crete).

It said the project promoter of the EuroAsia Interconnector submitted an investment request to the involved Regulatory Authorities of Cyprus and Greece on 5 September 2017 for the first stage of the project 3.10.2

“Interconnection of Kofinou (CY) and Korakia in Crete (EL)” with a total capacity of 1000MW and for the first stage of project 3.10.3 “Korakia Internal Line in Crete and Attica (region EL)” with a total capacity of 1000MW.

After consultations between CERA and RAE on October 10, 2017 an agreement was reached on the cross-border investment cost allocation.

Source: The Financial Mirror