Filenews 1 February 2026
On Monday, a bill of the Ministry of Finance is scheduled to be discussed in the Parliamentary Committee on Finance, which requests the amendment of the Telecommunications Service Law, Cap. 302, so that the possibility currently provided to Cyta to carry out activities and use its assets in works or activities in the telecommunications, media, information technology and other similar technology sectors, is extended to the energy sectors.
In the Explanatory Memorandum of the bill, which is signed by the Attorney General, it is stated that "with this amendment, CYTA is given the opportunity to expand its activities in the energy market, as a new business activity, combining its technology, data and infrastructure. The convergence of telecommunications and energy is a global trend and telecommunications companies with their integration into the energy sector gain a competitive advantage over those that do not expand in this sector."
Elsewhere, in the Introductory Report, it states that "Cyta has the potential to play a decisive role as a supplier of energy from renewable energy sources, offering affordable and sustainable solutions to Cypriot consumers. With its expertise in telecommunications, data infrastructure and digital technologies, Cyta can contribute to the modernization of the energy market and the transition of Cyprus to a smarter and more sustainable energy future."
It is known that Cyta had previously tried to pass such an amendment to the existing legislation, but there were reservations on the part of parties and MPs and energy was left out of the organization's new activities. And now it is being brought back as an addition - one word! - to the legislation. A word, however, of great importance for the energy market, for the EAC, for today's players in the electricity market and perhaps also for consumers.
Before Cyta's arguments and plans for its intended involvement in electricity production are officially heard, it would be inappropriate for someone to express an opinion. However, we note here that in the EAC there are serious objections to the Government's desire to allow the Telecommunications Authority to engage in a new business activity, competing with another semi-state organization, which remains trapped in the most expensive and polluting fuel, without the possibility of utilizing, at least, natural gas and with very little penetration in Renewable Energy Sources.
EAC's disagreement with the bill has been transferred to the Government. However, it will not be transferred to the Finance Committee, as the Committee did not invite the EAC to participate in Monday's session and take a position. Obviously, it has such a right, as do private participants in the electricity market. Regardless of one's opinion on the usefulness or not of the activity of a very successful organization, such as Cyta, in the production and supply of electricity in competitive market conditions.
