The need to accelerate specific reforms and interventions that can contribute substantially to the gradual de-escalation of electricity costs is underlined by the Cyprus Chamber of Commerce and Industry (CCCI) in a statement, pointing out that energy costs remain a critical issue for the competitiveness of the Cypriot economy.
"The reduction of energy costs is a long-standing demand of the business world and at the same time a basic condition for improving the competitiveness of the economy, supporting households and attracting new investments to the country," it states.
The CCCI expresses the position "that addressing the issue requires a coherent energy policy plan with clear priorities, timetables and measurable results".
Pointing out that the energy challenges are linked to Cyprus' dependence on imported fuels, the cost of pollutant emissions and the delays in the implementation of important energy projects, it calls for a series of actions to address these challenges.
In particular, it calls for the acceleration of the arrival and utilization of natural gas for electricity production, faster development of electricity storage infrastructure in order to maximize the utilization of Renewable Energy Sources, the upgrading and modernization of electricity transmission and distribution networks, the reduction of restrictions and cuts in the production of energy from photovoltaic systems, accelerating the full operation of a truly competitive electricity market model, strengthening investments in energy efficiency projects for businesses and households, simplifying the licensing procedures for energy projects and RES projects.
(KYPE/EG/HF)
