Cyprus Parliament Passes Law on Electricity Project Permits

The Plenary of the Parliament approved a bill amending the legislation on the regulation of the electricity market, introducing regulations for the extension of permits for electricity generation projects, transparency in the grid connection process, and the management of energy production.

The bill was submitted by MPs Kyriakos Chatzigiannis, Nikos Sykas, Michalis Yakoumi, and Stavros Papadouris. It was approved with 21 votes in favor and 13 against.

According to the legislation, the Cyprus Energy Regulatory Authority (RAEK) will be able to extend the validity of a permit for the construction of electricity generation plants or energy storage facilities, at the request of the investor and with a reasoned decision, for a period of up to one year at a time, with a maximum total limit of five years.

Additionally, the submission of data regarding the grid connection application is established, while the connection of projects to the grid will be based on maturity criteria to be published by the Ministry of Energy.

Finally, regulations are established for electricity production cuts and for public consultation on amendments to the ten-year grid development program.