Auditor Finds Profiteering in RES Permits Sold to EAC by Private Individuals

The Audit Office has identified indications of profiteering in the sale of Renewable Energy Sources (RES) permits from private individuals to the Electricity Authority of Cyprus (EAC), according to a report discussed in the Parliamentary Control Committee. The Auditor General, Andreas Papaconstantinou, stated that the EAC lags in the penetration of RES, possessing only 20 MW out of 420 MW nationwide.

Giorgos Petrou, Chairman of the EAC's Board of Directors, stated that the report does not concern the current board and that corrective actions are being taken. Regarding RES, he mentioned that permits are expected for an additional 25 MW to be operational by 2027. Zacharias Koulias, Chairman of the Control Committee, denounced profiteering at the expense of the consumer.

Rita Theodorou Superman, a DISY MP, stressed the need for investments in energy storage. Costas Costa, an AKEL MP, argued that the EAC is not responsible for the burdens due to emissions. Christos Christofidis, also from AKEL, denounced the existence of inactive RES permits with twice the capacity of those in operation.

Alecos Tryfonides, a DIPA MP, spoke of crimes against the EAC. Alexandra Attalides, an independent MP, stressed that some are enriching themselves at the expense of the Cypriot people. Polyvios Lemonaris, Chairman of the RAEK, stated that RAEK is not involved in the transfers of photovoltaic parks.