Cyta - FIVE PLUS ONE REASONS FOR ENTRY INTO ENERGY - Filenews 27/2
Cyta intervened in the ongoing public debate in Parliament on the update of its institutional framework, citing "5+1 truths" about its proposed activity in the Energy sector.
The Authority argues that its entry into the market will take place under the existing regulatory regime and in terms of equal competition, pointing out that the final decision of the Parliament will directly affect the choices that specific categories of consumers will have.
A level playing field in the market
Cyta reports that the energy market is already operating in a competitive regime, with public and private entities operating in more than one sector. It argues that updating the law restores equal treatment and ensures that the same competition rules apply to all providers.
Benefit for consumers without proprietary solutions
According to the Authority, its strategy targets groups of citizens who currently do not have access to privately owned energy solutions, such as tenants, residents of apartment buildings and small businesses that cannot install photovoltaics. As noted, the decision of the Parliament will determine whether these citizens will gain access to more affordable, green energy.
Strengthening of RES
Cyta says it intends to cooperate with Renewable Energy Sources (RES) producers and gradually invest in self-generation and storage. It believes that its participation can accelerate new investments and widen access to clean and cheaper energy in the context of the energy transition.
Regulatory framework and supervision
The Authority points out that its activity will be carried out in full compliance with the current institutional framework, with the prices and conditions to be determined by the Regulatory Authority and the procedures provided. As it states, it seeks equal participation under the same rules that apply to each provider.
Convergence of energy and technology
At the European level, Cyta notes, the energy and technology markets are converging, creating integrated service ecosystems. Cyprus, according to the Authority, can take advantage of this dynamic with institutional maturity and strategic adjustment, strengthening competition and citizens' choices.
"+1" reference to reliability
In conclusion, Cyta underlines that it has been linked to the country's development over time, with a measurable contribution to the economy and an internationally recognized presence. He believes that the same credibility can also strengthen the energy sector, offering more choice and transparency for the benefit of citizens.
