The confirmation ceremony of the member of the Cyprus Energy Regulatory Authority (RAEK) Mr Neofytos Hadjigeorgiou took place today, at the Presidential Palace, in the presence of the President of the Republic Mr Nicos Anastasiades.
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. Neofytos Hadjigeorgiou, to the position of member of the RAEC Cyprus.
This project 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 creation of a competitive and healthy internal electricity market,
- The removal of Cyprus' energy isolation.
- The emergence and creation of a natural gas market.
- The further penetration of Renewable Energy Sources in Cyprus' energy mix.
- The further penetration of Renewable Energy Sources in Cyprus' energy mix.
It is worth noting that, in the context of the actions of this strategic plan, we have taken 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 operation of 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 in the current context, characterized 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 €657 million grant 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.
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.
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 Grant Schemes to promote energy storage.
At the same time, by 2025, 400,000 smart meters will be installed with €35 million funding.
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.
Apart from what I have mentioned, a particular contribution to the effort for the further implementation of reforms, investments and grant schemes, including energy efficiency in buildings and further penetration of Renewable Energy Sources, is the allocation of the amount of 269 million euros foreseen in the National Plan "Cyprus-Tomorrow".
It is noted that in 2021 more than 40 million euros were allocated in 2021 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. Hadjigeorgiou, 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 this context, the work of RAEK remains important, demanding 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."
(PM/MG/IC)
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
Source
