Filenews 5 December 2025 - by Chrysanthos Manoli
The Commission's Commissioner for Energy, Dan Jorgensen, replied in writing to a question from MEP Michalis Hadjipantela that there is no need to conduct a new cost-benefit study for the Cyprus-Greece electrical interconnection, nor to publish a feasibility study, but the Cypriot Government remains committed to the decision taken by President Christodoulides and Prime Minister Mitsotakis last month to update the technical-economic data of the project, before the next steps.
Information from an informed government source states that the government's position and intention is "to carry out normally" the study, as agreed. When asked "who will do the update study, IPTO or the governments", the answer of the same source was "the decision was for the study to be carried out jointly by the two governments".
However, it is not known what procedures proceeded - if they proceeded - in the interval between the meeting and the statements of Christodoulidis - Mitsotakis. Obviously, a firm should be chosen to carry out this update, in order to clarify the estimated total cost today, but also its possible contribution to the reduction of electricity costs in Cyprus.
According to Jorgensen's answer to Mr. Hadjipantela "the Cyprus-Greece electricity interconnection continues to be a priority for the Commission, however, no new cost-benefit analysis is expected to be carried out, nor is it expected to publish a viability analysis."
The Cypriot MEP had asked in writing whether the Commission intends to carry out an updated cost-benefit analysis and whether it intends to publish a sustainability analysis of the GSI, especially in light of rising costs, funding gaps and ongoing geopolitical obstacles.
Commissioner Jorgensen first clarified that a cost-benefit analysis is done when an application is made to the Commission for a project to be granted project status of common interest, meaning that this has already been done many years ago for GSI (at the time the implementing body was EuroAsia Interconnector). In addition, it states that GSI has been approved as a Project of Common Interest, and this confirms that the benefits outweigh the costs.
In his response, Jorgensen described as "normal" for a Project of Common Interest to face higher costs than expected, especially in recent years, which have been particularly difficult in terms of supply chains and geopolitical developments. At the same time, he noted, the benefits arising from them have increased, in particular in terms of security of energy supply and the transferability of energy from renewable sources produced in the Union. Therefore, he underlined that the completion of the project remains a priority for the European Commission.
