The minister of energy, commerce and industry and the Cyprus chamber of commerce and industry (CCCI) agreed on Monday to intensify efforts to reduce the price of electricity.
“We have reached an agreement, which sets a timetable to address the concerns of CCCI members,” Energy Minister George Papanastasiou said after a meeting.
Papanastasiou added that the ministrys relationship with CCCI is “alive, dynamic and currently being updated in the face of new challenges.”
The minister noted that these challenges mainly concern the cost of energy, port fees and other issues related to industry and trade.
The private and public sector should work in the same direction for better results, the minister said, replying to a question on how to reduce energy prices and to achieve the goal of gas supply to the island.
CCCI President Christodoulos Angastiniotis expressed his agreement and satisfaction with the specific plans and timetables set by the minister.
CCCI proposed a subsidy plan for the installation of renewable energy storage systems by the Electricity Authority (EAC) and other suppliers that will join the competitive electricity market.
The chamber also suggested reduction of VAT for solar panels, and launching incentives for green investments and for the purchase of electric cars.
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