Proposals for Reducing Electricity Prices through Renewable Energy
February 10, 2025
The Chairman of the Electricity Authority of Cyprus (EAC), George Petrou, stated that reducing electricity prices can only be achieved through the installation of Renewable Energy Sources (RES). For many years, the EAC was excluded from the RES market, which delays the goal of lowering energy costs. However, it has recently secured a license for 600 megawatts of solar panels and is working on energy storage for RES. Petrou emphasized that private sector involvement is crucial for the success of the project.