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The Director General of the Ministry of Energy, Trade and Industry, Mr Marios Panagidis, participated in the work of the European Union (EU) Energy Council, which took place today in Brussels.
During the meeting, Member States adopted the Council Conclusions on the Development of Sustainable Electricity Networks. These aim to accelerate the development and modernisation of grids by strengthening interconnections and infrastructure security, collective planning and supporting the development of offshore Renewable Energy Sources (RES) generation. The implementation of the proposals contained in the Conclusions will help accelerate the EU's energy transition. In his intervention, Panagides supported the text of the Conclusions, noting that they can make a positive contribution during the next political cycle of discussions of the EU institutions, where development and investments in networks should be a priority. He welcomed the references to strengthening interconnections, especially for isolated energy systems, such as that of Cyprus. He noted that electricity interconnection with third partner countries is a constant priority for Cyprus. He underlined that the Conclusions recognise the direct threat from certain third countries to the security of the EU.
The Council also discussed experiences from the implementation of the REPowerEU project, which has contributed to reducing imports of fossil fuels from Russia, further penetration of renewables and the creation of a more flexible and stable electricity market. The Director-General underlined that REPowerEU has made a significant contribution to addressing the unprecedented energy crisis of recent years in the EU. He noted that even for Cyprus, which had no dependence on Russian fossil fuels at all, the project helped to boost energy savings and accelerate the development of renewable energy sources. He added that high energy prices necessitate continued efforts to reduce dependencies, diversify energy supply sources and further develop renewables. In this regard, he informed that Cyprus is making efforts to reduce dependence on imported fossil fuels through investments in improving energy efficiency and the development of renewable energy in buildings, businesses and industry. He also underlined the importance of additional funding for this transition from both the state and the private sector.
Furthermore, the Council exchanged views on the current state of implementation of the European Green Deal. Panagides noted that the draft revised Cyprus National Plan for Energy and Climate 2021-2030 presents in detail the challenges that Cyprus faces in the development of renewable energy sources and the improvement of energy efficiency. The main challenge is its energy isolation and the fact that its energy mix relies heavily on liquid fossil fuels. It also stated that the integration of all Member States' interconnections with the EU energy system is a prerequisite for the true completion of the Energy Union for the benefit of all EU citizens. He also underlined that the continuous obstacles that Cyprus faces from a particular third country in the energy sector are a threat to the Energy Union. Francesco La Camera and representatives of energy community organisations.
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