{"id":45930,"date":"2026-07-23T13:31:52","date_gmt":"2026-07-23T10:31:52","guid":{"rendered":"https:\/\/pilot.eac.com.cy\/?p=45930"},"modified":"2026-08-06T09:15:27","modified_gmt":"2026-08-06T06:15:27","slug":"eac-s-review-of-activities-23-july-2026","status":"publish","type":"post","link":"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/","title":{"rendered":"EAC\u2019S Review of Activities – 23 July 2026"},"content":{"rendered":"
\n

Address by the Chairman of the Board of Directors of the Electricity Authority of Cyprus<\/strong><\/h4>\n

30 Months of Responsibility, Financial Stability, Continuity and Transition<\/strong><\/h3>\n
\n
\n

For a public utility such as the Electricity Authority of Cyprus, presenting a public review of its work is not a ceremonial exercise. It is a fundamental institutional responsibility. The EAC belongs to the Republic of Cyprus and, ultimately, to the people of Cyprus. Those of us entrusted with positions of responsibility within the Organisation therefore have a duty to report openly, transparently and responsibly on what has been achieved, the challenges we have faced and the issues that remain ahead of us.<\/p>\n

Our 30-month term coincided with one of the most demanding periods the electricity sector has experienced in recent years. It was a period characterised by high energy costs, increasing security-of-supply requirements, the rapid deployment of renewable energy sources, technical constraints, substantial investment needs across generation and network infrastructure, delays to critical national energy projects, and growing obligations relating to market operation, environmental compliance, regulation, transparency and resilience.<\/p>\n

Against this backdrop, our guiding objective remained clear: to safeguard the stability and reliability of Cyprus’ electricity system, to contain costs for consumers as far as reasonably possible, and at the same time to lay the foundations for tomorrow’s energy transition.<\/p>\n

If there is one message I would like everyone to take away today, it is this:<\/p>\n

Stability today \u2014 a responsible transition for tomorrow.<\/strong><\/p>\n

1. Financial Stability and Responsible Stewardship <\/strong><\/b><\/p>\n

The performance of the current Board of Directors should also be assessed in light of the financial position we inherited.<\/p>\n

For us, 2023 served as the benchmark year. 2024 was the first full year in which we were called upon to manage the Organisation amid continuing energy uncertainty, significant cost pressures, growing investment requirements and heightened expectations from consumers, the market and public institutions alike.<\/p>\n

The Electricity Authority of Cyprus is not simply another commercial enterprise.<\/p>\n

It is a public utility entrusted with operating one of the country’s most critical national infrastructures.<\/p>\n

For that reason, our financial performance cannot be judged solely by the level of profit recorded at year-end.<\/p>\n

It must also be measured by our ability to remain financially resilient, finance strategic investments, preserve operational capability, serve consumers effectively and support Cyprus’ energy transition without compromising the Organisation’s long-term sustainability.<\/p>\n

Despite lower revenues compared with 2023, the EAC remained profitable throughout 2024.<\/p>\n

According to the audited financial statements for 2025:<\/p>\n

    \n
  • total revenue amounted to approximately \u20ac1.120 billion;<\/li>\n
  • total expenditure reached approximately \u20ac1.092 billion;<\/li>\n
  • operating profit stood at \u20ac28.7 million; and<\/li>\n
  • net profit amounted to \u20ac12.3 million.<\/li>\n<\/ul>\n

    While the 2025 results were lower than those recorded in 2024, they must be viewed within the context of the EAC’s public service mission.<\/p>\n

    As a public utility, the Authority is not driven by the pursuit of maximum profitability.<\/p>\n

    Its primary responsibility is to ensure the reliable supply of electricity, maintain long-term financial sustainability and keep costs to consumers as manageable as possible.<\/p>\n

    Throughout this period, we sought to strike the right financial balance.<\/p>\n

    On the one hand, we aimed to support consumers through electricity tariffs that were as fair and affordable as circumstances allowed.<\/p>\n

    On the other, we had to ensure that the Organisation retained the financial capacity to invest in critical infrastructure\u2014generation facilities, electricity networks, energy storage, digital systems and environmental compliance.<\/p>\n

    A significant achievement during 2025 was the reduction of operating expenses by approximately \u20ac38.4 million compared with 2024, primarily as a result of lower energy costs.<\/p>\n

    At the same time, higher expenditure on personnel, maintenance and other essential operational requirements demonstrates the complex\u2014and often competing\u2014pressures under which the Organisation continued to operate.<\/p>\n

    Maintaining financial stability also enabled the EAC to secure access to substantial external financing.<\/p>\n

    The preliminary approval of financing of up to \u20ac215 million from the European Investment Bank for electricity transmission and distribution projects is a clear vote of confidence in the Authority’s financial standing and its ability to successfully deliver major infrastructure investment programmes.<\/p>\n

    Financial stability, after all, is not an end in itself.<\/p>\n

    It is what enables the Electricity Authority of Cyprus to continue investing in the country’s energy future while fulfilling its public mission with responsibility, resilience and long-term vision.<\/p>\n

    2. Security of Supply and Electricity Generation<\/strong><\/b><\/p>\n

    Our first\u2014and non-negotiable\u2014priority has always been, and continues to be, security of electricity supply.<\/p>\n

    For most citizens, electricity is something they rightly take for granted. For the Electricity Authority of Cyprus, however, the uninterrupted supply of electricity is the result of continuous technical preparedness, planned maintenance, operational discipline and the coordinated efforts of hundreds of dedicated professionals.<\/p>\n

    Throughout 2025, we continued implementing comprehensive maintenance programmes and ensuring the operational readiness of our power stations.<\/p>\n

    Vasiliko Power Station remained the backbone of the country’s electricity generation, while Dhekelia and Moni continued to play a vital role in safeguarding system adequacy and stability.<\/p>\n

    According to the 2025 generation figures:<\/p>\n

      \n
    • Vasiliko accounted for approximately 66% of the EAC’s total electricity generation;<\/li>\n
    • Dhekelia contributed around 32%; and<\/li>\n
    • Moni generated approximately 1%.<\/li>\n<\/ul>\n

      These figures illustrate an important reality.<\/p>\n

      The green transition is both necessary and inevitable. However, conventional generation remains an essential pillar of security of supply until new storage technologies, greater system flexibility and electricity interconnections are fully developed and operational.<\/p>\n

      During our term, a contract was awarded for the installation of a new generation unit at Dhekelia Power Station.<\/p>\n

      This is a project of strategic importance.<\/p>\n

      It will strengthen generation adequacy, reinforce Dhekelia’s role as Cyprus’ second major electricity generation hub and enhance the overall resilience of the national electricity system.<\/p>\n

      At the same time, the EAC has completed the necessary preparations to utilise natural gas as a generation fuel.<\/p>\n

      The required modifications and supporting infrastructure have been implemented at Vasiliko Power Station, enabling its generating units to operate on natural gas.<\/p>\n

      In addition, the new Combined Cycle Unit No. 6 has been fully completed and is currently being maintained under long-term preservation.<\/p>\n

      The unit will be ready to commence commercial operation as soon as natural gas becomes available at Vasiliko Power Station.<\/p>\n

      3. Green Transition, Renewable Energy and Energy Storage<\/strong><\/b><\/p>\n

      Success cannot be measured solely by the amount of renewable capacity installed.<\/p>\n

      It must also be measured by our ability to integrate energy storage intelligently, minimise renewable energy curtailments and maximise the value of clean energy for consumers.<\/p>\n

      The real benchmark is not how many megawatts are installed, but how effectively clean energy can be integrated into the electricity system, absorbed, utilised efficiently and ultimately translated into tangible benefits for households and businesses.<\/p>\n

      Drawing on its technical expertise and decades of operational experience, the EAC continues to play a leading role in the practical implementation of clean energy projects and the gradual expansion of its own renewable generation portfolio.<\/p>\n

      Today, photovoltaic parks with a combined capacity of 23 MWp are already in operation, while additional projects of significant capacity have either received licences or are progressing through various stages of planning, assessment and regulatory approval.<\/p>\n

      At the same time, photovoltaic systems have now been installed at 405 public schools across Cyprus, providing a combined installed capacity of approximately 4.9 MW.<\/p>\n

      The Authority also continues to provide technical support for renewable energy projects undertaken by other public-sector organisations, including public hospitals, military installations and university facilities.<\/p>\n

      The curtailment of renewable energy has become one of the most widely discussed issues in Cyprus’ public debate.<\/p>\n

      Our position is clear.<\/p>\n

      Renewable energy curtailments are not the responsibility of a single organisation.<\/p>\n

      They are the result of a broader systemic imbalance between electricity generation, demand, network capacity, storage availability, system flexibility, forecasting capabilities and market design.<\/p>\n

      Energy storage is undoubtedly one of the key tools for addressing this challenge.<\/p>\n

      However, it is not a silver bullet.<\/p>\n

      Its successful deployment requires an appropriate regulatory framework, a viable business model, operational rules, regulatory certainty and a fair allocation of costs and benefits.<\/p>\n

      Our position has therefore been consistent:<\/p>\n

      Yes to energy storage\u2014but with clear rules, transparency and, above all, a focus on delivering benefits to both the electricity system and the consumer.<\/p>\n

      Against this backdrop, the EAC is advancing a number of strategically located storage projects across the electricity system, while also supporting practical solutions that enable greater utilisation of renewable generation, particularly when combined with photovoltaic installations and self-consumption schemes.<\/p>\n

      As part of our efforts to reinforce Dhekelia Power Station as Cyprus’ second electricity generation hub, we are proceeding with the installation of an 80 MW \/ 160 MWh battery energy storage system.<\/p>\n

      In parallel:<\/p>\n

        \n
      • an application has been submitted for a 100 MW \/ 200 MWh storage system at Moni Power Station;<\/li>\n
      • an application has also been submitted for battery storage facilities at Vasiliko Power Station; and<\/li>\n
      • additional storage projects at other strategic locations are currently under evaluation.<\/li>\n<\/ul>\n

        Looking ahead, our greatest challenge is no longer simply producing more green electricity.<\/p>\n

        It is transforming green generation into green consumption.<\/p>\n

        Achieving this will require investment in energy storage, greater system flexibility, stronger electricity networks, better data, effective market rules and close coordination among all stakeholders involved in Cyprus’ energy transition.<\/p>\n

        4. Networks, Distribution and Digital Transformation<\/strong><\/b><\/p>\n

        The green transition does not take place solely in solar parks or on residential rooftops.<\/p>\n

        It takes place in substations, power lines, automation systems, digital data and the operational resilience of the electricity network.<\/p>\n

        Clean electricity can only become clean consumption through the continuous transformation of the distribution network into a smarter, more flexible and digitally enabled system.<\/p>\n

        Between 2024 and 2026, significant investments were advanced to strengthen and modernise both the Transmission and Distribution systems.<\/p>\n

        These projects increase the capacity, reliability and flexibility of Cyprus’ electricity network, while creating the conditions necessary for the greater integration of renewable energy sources.<\/p>\n

        The Distribution Business Unit deserves particular attention.<\/p>\n

        Distribution is not simply the final link in the electricity supply chain.<\/p>\n

        It is the infrastructure that connects renewable energy, the electricity market, the grid and the consumer.<\/p>\n

        By the end of 2025, approximately 97,600 renewable energy systems, with a combined installed capacity exceeding 1,068 MW, had been connected to the Distribution System.<\/p>\n

        Of these:<\/p>\n

          \n
        • 251 utility-scale renewable energy projects, primarily photovoltaic parks, account for approximately 340 MW; while<\/li>\n
        • around 95,600 self-consumption photovoltaic systems, operating under net-metering and net-billing schemes, represent approximately 600 MW.<\/li>\n<\/ul>\n

          These figures demonstrate the scale of the transformation already taking place.<\/p>\n

          With a further 1,000 MW of renewable capacity expected to be integrated by 2030, the Distribution Network must become significantly smarter, more flexible and more resilient.<\/p>\n

          Progress should not be measured solely by the number of megawatts installed.<\/p>\n

          It must also be measured by the network’s ability to integrate this capacity safely, reliably and efficiently, while delivering tangible benefits to consumers.<\/p>\n

          Significant progress has also been made in the rollout of smart meters.<\/p>\n

          To date, approximately 390,000 smart meters have been installed, with the programme remaining on track to reach 500,000 installations by June 2027, ultimately providing smart metering services to every electricity consumer in Cyprus.<\/p>\n

          The project has successfully met the milestones set under the Recovery and Resilience Facility, securing certified funding of \u20ac29.6 million, of which the first instalment of \u20ac13.7 million has already been received.<\/p>\n

          However, the digital transformation of the Distribution Network extends well beyond smart meters.<\/p>\n

          It also encompasses advanced network management systems, remote-control technologies, geographic information systems (GIS) and modern metering data management platforms.<\/p>\n

          The first phase of the Authority’s advanced digital Distribution Management System has already entered operation, with 100% of the medium-voltage network now incorporated into the new platform.<\/p>\n

          Metering Data Management System<\/strong><\/p>\n

          Recent public discussion has focused on the administrative fine imposed on the EAC by the Cyprus Energy Regulatory Authority (CERA) concerning the operation of the Metering Data Management System.<\/p>\n

          The Authority has treated this matter with the utmost seriousness and has moved swiftly to implement the necessary corrective measures.<\/p>\n

          To support this effort, we are utilising both our own internal expertise and the services of a specialised project management consultancy, working closely with the software provider to ensure the successful resolution of all outstanding issues.<\/p>\n

          Before the launch of the Competitive Electricity Market, an extensive testing period was carried out and all issues identified through the available testing scenarios were addressed.<\/p>\n

          However, given the complexity of the project and the limited participation of market participants during the testing phase, it was not possible to fully replicate every real-world operating condition.<\/p>\n

          As a result, certain issues only became apparent after the market entered commercial operation.<\/p>\n

          The EAC continues to monitor progress closely and is working in close cooperation with all relevant stakeholders to bring these matters to a definitive conclusion.<\/p>\n

          Our overriding priority remains the reliable operation of the systems, full compliance with regulatory requirements and the smooth functioning of the Competitive Electricity Market.<\/p>\n

          Beyond these systems, the Authority is also investing significantly in fibre-optic communications networks, the replacement of legacy equipment with modern remotely controlled infrastructure and the creation of a digital twin of the electricity network.<\/p>\n

          These investments enhance project planning, improve support for field crews, strengthen fault management capabilities and provide a more comprehensive, real-time overview of the entire electricity system.<\/p>\n

          The Distribution Business Unit has also continued to strengthen operational resilience and wildfire prevention through comprehensive action plans, inspections, patrols, vegetation management, drone technology and ongoing equipment upgrades.<\/p>\n

          The large-scale mobilisation following the devastating wildfire in the Limassol mountain region during July 2025 demonstrated, in practice, the professionalism, preparedness and strong sense of public duty that characterise the people of the Electricity Authority of Cyprus.<\/p>\n

          Ultimately, every investment we make in our networks and distribution infrastructure is an investment in reliability, security, digital intelligence and faster service restoration.<\/p>\n

          Above all, these investments are laying the essential foundations for Cyprus’ successful energy transition.<\/p>\n

          5. \u00a0Supply, the Electricity Market and Our Social Responsibility<\/strong><\/b><\/p>\n

          The Supply Business Unit is where citizens and businesses interact with the Electricity Authority of Cyprus on a daily basis.<\/p>\n

          It is here that the quality of our customer service, our transparency, our social responsibility and our ability to adapt to a changing electricity market are most directly experienced.<\/p>\n

          In 2025<\/strong>,<\/strong> total electricity sales amounted to 4,053 GWh<\/strong>, representing a decrease of approximately 3.7%<\/strong> compared with 2024.<\/p>\n

          At the same time, the total number of customers increased from approximately 627,000<\/strong> in 2024 to 629,000<\/strong> in 2025.<\/p>\n

          A major milestone during our term was the launch of the Competitive Electricity Market<\/strong>,<\/strong> which entered commercial operation on 1 October 2025<\/strong>.<\/strong><\/p>\n

          Since then, EAC Supply has participated in the market continuously\u2014365 days a year<\/strong>\u2014requiring highly sophisticated forecasting, calculations and market submissions every thirty minutes.<\/p>\n

          This represents a significant operational transformation and demonstrates the Organisation’s ability to adapt successfully to a fundamentally new market environment.<\/p>\n

          Equally important is the social dimension of our mission.<\/p>\n

          The Electricity Authority of Cyprus continues to support and implement the Government’s social policy for the protection of vulnerable consumers through the Special Domestic Tariff (Code 08).<\/strong><\/p>\n

          During our term, the number of eligible beneficiary categories increased from 18 to 20<\/strong>, and by the end of February 2026<\/strong>, almost 30,000 customers<\/strong>\u2014specifically 29,905<\/strong>\u2014were benefiting from this special tariff.<\/p>\n

          These figures reflect an Organisation that continues to evolve, embrace digital transformation, improve the services it provides and strengthen its relationship with the citizens it serves.<\/p>\n

          6. New Services and Creation of Public Value<\/strong><\/b><\/p>\n

          Our Non-Regulated Activities<\/strong> demonstrate that the EAC can successfully leverage its technical expertise beyond its core regulated operations, always within the institutional framework that governs the Organisation and with a clear focus on delivering value to society.<\/p>\n

          In the field of electric mobility<\/strong>, our E-Charge<\/strong> service entered a new phase on 1 June 2026<\/strong>.<\/p>\n

          Charging is now managed entirely through a dedicated mobile application, payments are made directly by bank card without the need for a subscription, and the network currently comprises 62 charging stations<\/strong> across Cyprus.<\/p>\n

          By the end of 2026, we aim to commission a further 25 charging points<\/strong>, including three ultra-fast 120 kW chargers<\/strong>, further strengthening the country’s electric vehicle infrastructure.<\/p>\n

          Another important achievement concerns public street lighting<\/strong>.<\/p>\n

          The replacement of conventional street lighting with LED luminaires<\/strong> has now been completed across all municipalities and communities in Cyprus<\/strong>, delivering estimated annual energy savings in excess of 29 GWh<\/strong>.<\/p>\n

          At the same time, the EAC continues to support energy efficiency initiatives through programmes such as EAC+<\/strong>, which assists vulnerable households in replacing inefficient air-conditioning units and helps businesses upgrade conventional lighting systems to energy-efficient LED technology.<\/p>\n

          In addition, the Authority continues to make an important contribution to addressing Cyprus’ water challenges.<\/p>\n

          The desalination plant at Vasiliko Power Station<\/strong> currently produces approximately 60,000 cubic metres of potable water every day<\/strong>, reinforcing the country’s water security while demonstrating how the Organisation’s expertise can be applied beyond the electricity sector.<\/p>\n

          7. Governance, Quality, Sustainability and Resilience<\/strong><\/b><\/p>\n

          Our term should not be judged solely on the infrastructure projects we have delivered.<\/p>\n

          A public utility of the EAC’s scale also depends on strong governance, institutional resilience, accountability, effective risk management and systematic oversight of critical organisational issues.<\/strong><\/p>\n

          During this period, greater emphasis was placed on strategic planning, technological development, financial management, internal audit, risk management, cybersecurity, regulatory compliance, quality assurance, occupational health and safety, environmental performance, ESG principles and business continuity.<\/p>\n

          To strengthen oversight of these increasingly complex areas, the Board’s committees assumed a more active and strategic role.<\/p>\n

          Matters relating to internal audit, financial management, infrastructure, technology, enterprise risk and cybersecurity received more detailed scrutiny than ever before, strengthening governance across the Organisation.<\/p>\n

          Particular emphasis was also placed on enhancing transparency and preparing the Organisation for the growing sustainability and corporate reporting requirements that are emerging across Europe.<\/p>\n

          This includes compliance with the Corporate Sustainability Reporting Directive (CSRD)<\/strong> and the preparation of comprehensive Sustainability Reports.<\/p>\n

          For the EAC, sustainability is not simply another regulatory obligation.<\/p>\n

          It is an essential framework for accountability, transparency and the systematic measurement of our environmental, social and governance performance.<\/p>\n

          The Organisation also continues to maintain and develop certified management systems aligned with internationally recognised standards covering quality, occupational health and safety and environmental management.<\/p>\n

          Maintaining these certifications requires continuous assessment, regular internal and external audits, corrective actions and an ongoing commitment to continuous improvement.<\/p>\n

          At the same time, the Authority’s laboratories continue to operate under internationally accredited frameworks, ensuring technical competence, reliable measurements and full traceability of results.<\/p>\n

          We also strengthened the Organisation’s preparedness for managing crises and major incidents.<\/p>\n

          Critical business functions were identified, the potential consequences of operational disruption were assessed and comprehensive business continuity and recovery plans were further developed to ensure that the Authority can respond more effectively and with greater resilience under adverse conditions.<\/p>\n

          These initiatives represent far more than administrative improvements.<\/p>\n

          They reflect the institutional maturity of an Organisation that is no longer focused solely on managing today’s operational demands, but is actively preparing itself for the significantly greater challenges of tomorrow.<\/p>\n

          8. The People of\u00a0 EAC <\/strong><\/b><\/p>\n

          The Electricity Authority of Cyprus’ greatest strength is, and always will be, its people.<\/p>\n

          The expertise of our employees, the experience of our technical and administrative teams, and their ability to respond effectively under demanding conditions constitute one of the Organisation’s most valuable assets.<\/p>\n

          No project can be delivered, and no strategy can succeed, without the commitment and dedication of the people of the EAC.<\/p>\n

          The energy transition demands new skills, digital capabilities, specialised technical expertise, the ability to manage increasingly complex projects and, above all, a culture of collaboration.<\/p>\n

          Today, I would like to publicly acknowledge and thank everyone who serves the Organisation\u2014those working at our power stations, across the transmission and distribution networks, in customer service centres, offices, laboratories, warehouses and every other supporting department.<\/p>\n

          Each and every one of them contributes to the reliable operation of one of Cyprus’ most critical national infrastructures.<\/p>\n

          Special recognition is due to the outstanding response demonstrated by our people during periods of crisis and emergency, most notably during the devastating wildfire that affected the Limassol District.<\/p>\n

          In moments such as these, the professionalism, preparedness and strong sense of public duty that define the EAC’s workforce become evident to society as a whole.<\/p>\n

          Ultimately, the Authority’s reliability and institutional continuity rest not only on infrastructure and technology, but on the professionalism, commitment and dedication that our people demonstrate every single day.<\/span><\/p>\n

          9. Looking Ahead \u2013 The Legacy We Leave<\/strong><\/b><\/p>\n

          No Board of Directors can complete an energy transition of this magnitude within a single term of office.<\/p>\n

          What a Board can be judged on, however, is whether it succeeded in keeping the Organisation stable during exceptionally challenging times, whether it took responsible decisions, and whether it left behind stronger foundations for those who follow.<\/p>\n

          That is precisely what we set out to achieve.<\/p>\n

          We leave behind an Organisation with a positive\u2014yet deliberately measured\u2014financial performance, a substantial pipeline of strategic projects already under way, a clearer understanding of the challenges that lie ahead, and a stronger appreciation of the key conditions required for a successful energy transition.<\/p>\n

          Those conditions include:<\/p>\n

            \n
          • safeguarding security of supply;<\/li>\n
          • maintaining financial discipline;<\/li>\n
          • ensuring fair electricity tariffs;<\/li>\n
          • investing in stronger and smarter electricity networks;<\/li>\n
          • deploying energy storage within a clear regulatory framework;<\/li>\n
          • harnessing digital data and technology;<\/li>\n
          • placing the consumer at the centre of everything we do;<\/li>\n
          • meeting our environmental obligations; and<\/li>\n
          • strengthening the institutional resilience of the Organisation.<\/li>\n<\/ul>\n

            We also leave behind a clearer understanding that the continued modernisation of the electricity network, the ongoing improvement of metering data quality, more flexible grid connections, expanded energy storage capacity and faster permitting procedures are not separate priorities.<\/p>\n

            They are interdependent requirements for the next phase of Cyprus’ energy transition.<\/p>\n

            Cyprus does not need slogans.<\/p>\n

            It needs coordination.<\/p>\n

            It needs responsibility.<\/p>\n

            It needs consistency, technical expertise, financial discipline and decisions that serve the broader public interest.<\/p>\n

            The Electricity Authority of Cyprus has been, and must continue to be, a pillar of security, economic development and social cohesion.<\/p>\n

            It must remain a modern, reliable, financially disciplined and resilient public utility, capable of supporting Cyprus on its journey towards a cleaner, fairer and more sustainable energy future.<\/p>\n

            In closing, I would like to emphasise one final point.<\/p>\n

            The Electricity Authority of Cyprus is a national asset.<\/p>\n

            Our collective responsibility is to safeguard its continuity, reliability, financial strength and long-term value.<\/p>\n

            The energy transition will not be achieved through a single decision, a single project or a single technology.<\/p>\n

            It will be achieved through cooperation among all stakeholders, supported by modern infrastructure, clear rules, sustained investment, skilled people, transparency and, above all, trust.<\/p>\n

            I would like to express my sincere gratitude to the President of the Republic of Cyprus, the Council of Ministers, the Minister of Energy, Commerce and Industry, the Cyprus Energy Regulatory Authority (CERA)<\/strong>, the Cyprus Transmission System Operator (TSO), the public authorities, our institutional partners and everyone with whom we had the privilege of working throughout our term.<\/p>\n

            I would also like to thank the former Minister of Energy, Commerce and Industry, Mr George Papanastasiou, for the constructive cooperation we enjoyed during this period.<\/p>\n

            My heartfelt thanks also go to my fellow members of the Board of Directors, the General Manager, the Management team and every employee of the Electricity Authority of Cyprus.<\/p>\n

            I also wish to acknowledge the valuable cooperation of the trade unions, whose contribution has been important throughout this period.<\/p>\n

            The Electricity Authority of Cyprus will continue to serve society with responsibility, technical excellence and sound financial management, always recognising that energy is far more than an economic commodity.<\/p>\n

            It is a prerequisite for security, economic growth, social cohesion and the future prosperity of our country.<\/span><\/p>\n<\/div>\n<\/div>\n

            \n
            \n

            \"\"<\/p>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

            Address by the Chairman of the Board of Directors of the Electricity Authority of Cyprus 30 Months of Responsibility, Financial Stability, Continuity and Transition For a public utility such as the Electricity Authority of Cyprus, presenting a public review of its work is not a ceremonial exercise. It is a fundamental institutional responsibility. The EAC […]<\/p>\n","protected":false},"author":149,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"channel":[33],"class_list":["post-45930","post","type-post","status-publish","format-standard","hentry","category-uncategorized","channel-public-relations"],"acf":[],"yoast_head":"\nEAC\u2019S Review of Activities - 23 July 2026 - Electricity Authority of Cyprus<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EAC\u2019S Review of Activities - 23 July 2026 - Electricity Authority of Cyprus\" \/>\n<meta property=\"og:description\" content=\"Address by the Chairman of the Board of Directors of the Electricity Authority of Cyprus 30 Months of Responsibility, Financial Stability, Continuity and Transition For a public utility such as the Electricity Authority of Cyprus, presenting a public review of its work is not a ceremonial exercise. It is a fundamental institutional responsibility. The EAC […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"Electricity Authority of Cyprus\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-23T10:31:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-06T06:15:27+00:00\" \/>\n<meta name=\"author\" content=\"S.Kouroufexis@Eac.com.cy\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"S.Kouroufexis@Eac.com.cy\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"22 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/\",\"url\":\"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/\",\"name\":\"EAC\u2019S Review of Activities - 23 July 2026 - Electricity Authority of Cyprus\",\"isPartOf\":{\"@id\":\"https:\/\/pilot.eac.com.cy\/en\/#website\"},\"datePublished\":\"2026-07-23T10:31:52+00:00\",\"dateModified\":\"2026-08-06T06:15:27+00:00\",\"author\":{\"@id\":\"https:\/\/pilot.eac.com.cy\/en\/#\/schema\/person\/e6f733ddb837a5d808a36ba7db35812d\"},\"breadcrumb\":{\"@id\":\"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/pilot.eac.com.cy\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"EAC\u2019S Review of Activities – 23 July 2026\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/pilot.eac.com.cy\/en\/#website\",\"url\":\"https:\/\/pilot.eac.com.cy\/en\/\",\"name\":\"Electricity Authority of Cyprus\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/pilot.eac.com.cy\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/pilot.eac.com.cy\/en\/#\/schema\/person\/e6f733ddb837a5d808a36ba7db35812d\",\"name\":\"S.Kouroufexis@Eac.com.cy\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/pilot.eac.com.cy\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f2c7bf99f81322ded91e4ec632627ab9acc78ed05f5ee0c208bb981b93b5c010?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f2c7bf99f81322ded91e4ec632627ab9acc78ed05f5ee0c208bb981b93b5c010?s=96&d=mm&r=g\",\"caption\":\"S.Kouroufexis@Eac.com.cy\"},\"url\":\"https:\/\/pilot.eac.com.cy\/en\/author\/s-kouroufexis-eac-com-cy\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"EAC\u2019S Review of Activities - 23 July 2026 - Electricity Authority of Cyprus","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/","og_locale":"en_US","og_type":"article","og_title":"EAC\u2019S Review of Activities - 23 July 2026 - Electricity Authority of Cyprus","og_description":"Address by the Chairman of the Board of Directors of the Electricity Authority of Cyprus 30 Months of Responsibility, Financial Stability, Continuity and Transition For a public utility such as the Electricity Authority of Cyprus, presenting a public review of its work is not a ceremonial exercise. It is a fundamental institutional responsibility. The EAC […]","og_url":"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/","og_site_name":"Electricity Authority of Cyprus","article_published_time":"2026-07-23T10:31:52+00:00","article_modified_time":"2026-08-06T06:15:27+00:00","author":"S.Kouroufexis@Eac.com.cy","twitter_card":"summary_large_image","twitter_misc":{"Written by":"S.Kouroufexis@Eac.com.cy","Est. reading time":"22 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/","url":"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/","name":"EAC\u2019S Review of Activities - 23 July 2026 - Electricity Authority of Cyprus","isPartOf":{"@id":"https:\/\/pilot.eac.com.cy\/en\/#website"},"datePublished":"2026-07-23T10:31:52+00:00","dateModified":"2026-08-06T06:15:27+00:00","author":{"@id":"https:\/\/pilot.eac.com.cy\/en\/#\/schema\/person\/e6f733ddb837a5d808a36ba7db35812d"},"breadcrumb":{"@id":"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/pilot.eac.com.cy\/en\/eac-s-review-of-activities-23-july-2026\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/pilot.eac.com.cy\/en\/"},{"@type":"ListItem","position":2,"name":"EAC\u2019S Review of Activities – 23 July 2026"}]},{"@type":"WebSite","@id":"https:\/\/pilot.eac.com.cy\/en\/#website","url":"https:\/\/pilot.eac.com.cy\/en\/","name":"Electricity Authority of Cyprus","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/pilot.eac.com.cy\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/pilot.eac.com.cy\/en\/#\/schema\/person\/e6f733ddb837a5d808a36ba7db35812d","name":"S.Kouroufexis@Eac.com.cy","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/pilot.eac.com.cy\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f2c7bf99f81322ded91e4ec632627ab9acc78ed05f5ee0c208bb981b93b5c010?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f2c7bf99f81322ded91e4ec632627ab9acc78ed05f5ee0c208bb981b93b5c010?s=96&d=mm&r=g","caption":"S.Kouroufexis@Eac.com.cy"},"url":"https:\/\/pilot.eac.com.cy\/en\/author\/s-kouroufexis-eac-com-cy\/"}]}},"_links":{"self":[{"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/posts\/45930","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/users\/149"}],"replies":[{"embeddable":true,"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/comments?post=45930"}],"version-history":[{"count":1,"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/posts\/45930\/revisions"}],"predecessor-version":[{"id":45931,"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/posts\/45930\/revisions\/45931"}],"wp:attachment":[{"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/media?parent=45930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/categories?post=45930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/tags?post=45930"},{"taxonomy":"channel","embeddable":true,"href":"https:\/\/pilot.eac.com.cy\/en\/wp-json\/wp\/v2\/channel?post=45930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}