Preferential Treatment of Private Companies in the Photovoltaic Sector
February 26, 2026
The Audit Office confirmed the preferential treatment of private companies in the renewable energy sector, with mainly five large companies benefiting. Consumers did not see reductions in their electricity bills and faced additional costs due to the purchase of emissions rights. Despite the potential, the Electricity Authority of Cyprus (EAC) failed to penetrate the renewable energy market sufficiently. The Audit Office calls for the cancellation of licenses by the Regulatory Authority for Energy (RAE) in favor of the EAC or other interested parties. The delay of the EAC allowed private photovoltaic projects to flourish.