Filenews 3 July 2024 - by Chrysanthos Manoli
Speaking a while ago on Tuesday's Morning Itinerary, Energy Minister George Papanastasiou said that CERA's decision yesterday to reject ADMIE's requests to start repaying the cost of the electricity interconnection from 1/1/2025 is good news for the Cypriot electricity consumer.
But he also said CERA's decision was not good news for ADMIE and the European Commission, who expected a different decision. Papanastasiou said that there was yesterday a reaction – a manifestation of dissatisfaction – to CERA's decision by ADMIE and the European Commission, but not by the Greek government. However, he said that there may be a reaction from the Greek government today.
The Energy Minister said that today it will become clearer the impact of the project by CERA's decision and any questioning of the project's viability.
Fileleftheros reports that ADMIE argues that without the start of the burden on consumers in Cyprus as well, its cooperation with the company Nexans, which manufactures the cable, will be seriously affected, as without these revenues the repayment of the cable will be negatively affected.
What is expected to become clear in the coming days is whether or not IPTO can secure financing for the €1.9 billion project itself (of which €657 billion is an EU grant, which is already being disbursed gradually) from banks or other private organizations.
