The ceremony of confirmation of RAEC member Mr. Neophytos Hadjigeorgiou, in the presence of the President of the Republic of Cyprus, Mr. Neophytos Hadjigeorgiou. Speaking at the ceremony, the President of the Republic said that "exercising the powers granted to me by the Constitution, I proceed to the reappointment of Mr. Neophytos Hadjigeorgiou to the position of member of the Cyprus Energy Regulatory Authority."
Speaking at the ceremony, the President of the Republic said that "exercising the powers granted to me by the Constitution, I proceed to the reappointment of Mr. Neophytos Hadjigeorgiou to the position of member of the Cyprus Energy Regulatory Authority.
In addition to your academic knowledge and your many years of experience in energy matters, your high level of contribution to the important work carried out by the Authority was of decisive importance for your reappointment, Mr. Hadjigeorgiou.
This work is directly intertwined with the national objective we have set to make energy a source of wealth, prosperity and security for the country and a driver for green growth.
To this end, we have adopted a comprehensive strategic plan, which focuses on.
[*]The further penetration of Renewable Energy Sources in the energy mix of Cyprus.
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It is worth noting that, in the context of the actions of this strategic plan, we have made substantial steps in the last two years.
Among others, I would like to highlight the adoption of bills concerning:
Ø The regulatory framework for the competitive electricity market.
Ø The establishment of RAEK and its Office as a single legal entity under public law.
Ø The independence of the Cyprus Transmission System Operator.
These bills also include provisions related to the protection of vulnerable consumers, which are of utmost importance at the current juncture, characterised by the sharp increase in energy prices worldwide.
In addition.
[*]We submitted to the House of Representatives a bill for the promotion of Renewable Energy Sources, which, among other things, provides for the creation of a specialised one-stop centre to facilitate information, service and licensing of Renewable Energy Sources projects. This is fully in line with the European Commission's decision to establish a mechanism for the fast-track examination and authorisation of Renewable Energy Sources
[*][*] We have secured a grant of €657 million from the European Commission for the construction of the EuroAsia Interconnector electricity interconnection between Cyprus and Israel and Crete, while €100 million has been included for the implementation of the project under the National Plan "Cyprus - Tomorrow".
[*]The promotion of the implementation of 223 commercial Renewable Energy Sources projects. With their completion and in combination with the systems in homes and businesses, the total installed production from Renewable Energy Sources is expected to increase beyond 700 megawatts.
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At the same time, Memoranda of Understanding were signed, both on a bilateral level with Egypt and on a trilateral level and with Greece, for the electrical interconnection between Cyprus, Egypt and Greece.
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At the same time, Memoranda of Understanding were signed, both on a bilateral level with Egypt and on a trilateral level and with Greece, for the electrical interconnection between Cyprus, Egypt and Greece.
- By 2030, around €80 million is expected to be made available for Sponsorship projects to promote energy storage.
At the same time, by 2025, with €35 million funding, 400,000 smart meters will be installed.
I also note that the State, in terms of Renewable Energy Sources in the country's gross final consumption, has exceeded our mandatory targets for 2020 with 17% instead of the 13% envisaged in the whole plan, a particular contribution to the effort for the further implementation of reforms, investments and sponsorship projects, including energy efficiency in buildings and further penetration of Renewable Energy Sources, is the allocation of the amount of EUR 269 million foreseen in the National Plan "Cyprus - Tomorrow".
It is noted that in 2021 more than 40 million euros were allocated in Grant Schemes for energy upgrading, while in 2022 this amount will exceed 90 million euros, while in addition to the above two Schemes have been approved, with a total budget of 49 million euros for energy upgrading, both for businesses and buildings of Municipalities, Communities and Non-Profit Organizations.
What I have mentioned is indicative of the substantial progress we have made towards the goal of decoupling from conventional forms of energy and ensuring energy sufficiency in our country, for the benefit and with a focus on consumer protection.
Mr. Hatzigeorgiou, it is precisely this effort that you are called upon to continue with your reappointment, and with the rest of the members of the Authority, so that, in cooperation with the Government, not only the objectives of the national strategy can be implemented, but also any other policies that are deemed necessary to be implemented, in order to achieve what I have mentioned above.
I have no doubt that all your service to the Authority and the close cooperation between you will be the key element, in addition to knowledge, that will help so that the Government, always in cooperation with you and with the advisory and decisive role you play, will adopt even further beneficial practices to achieve the objective we have set."
For his part, Mr. Hadjigeorgiou expressed his thanks for his reappointment and assured that he will continue "with zeal, professionalism and a high sense of responsibility" to carry out his duties at a challenging time with multiple developments in the electricity and gas sector in our country.
He added that "the current period is characterised by intense turbulence due to the war in Ukraine, the electricity and gas markets are being tested, while prices are moving to ever higher levels for consumers. These markets are complex by nature and no matter how much we want to simplify the rules governing them, the result will always be complex.
In these circumstances, the first priority is to ensure the reliability of Cyprus' energy system in an economically optimal way, while meeting the demanding targets set for the green transition and decoupling from liquid fuels.
In this context, the work of RAEK remains important, challenging and complex, given the particular characteristics of the Cypriot energy market, which is small, unconnected and dependent on international fossil fuel prices.
With hard work and cooperation with all relevant governmental and European bodies, every effort will be made to carry out this project successfully.
I assure you that I will continue to make every effort to ensure that, in full and close cooperation with the President and Vice President of RAEK, all issues are approached with scientific and professionalism within the framework of the powers and responsibilities provided by both national and European legislation, with the sole aim of protecting and benefiting consumers and the economy of the country in general."
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