Following the decision of Cyprus Energy Regulatory Authority (CERA), the issue of the payment of €25 million for the Cyprus–Greece electricity interconnection is a matter currently under review by the Government, Finance Minister Makis Keravnos said.

Asked about the matter after Wednesday’s Cabinet meeting, the Minister repeated his position that “many aspects of the issue must be examined, and, above all, the financial viability, and beyond any doubt it must be ascertained that entering into this project will result in a reduction in electricity prices, when we, as a Government, make our decision,” he said.

Responding to a comment that the process has been ongoing for several months, the Minister referred to a similar issue that arose between Greece's Regulatory Authority IPTO and Italy, where the Italian regulator “has very strong views and discussions are taking place. These projects are very large, very costly, and require great caution, so that we do not create problems instead of resolving them,” he said.

Asked about the timeframe for a decision, Keravnos stated that the matter is not being examined by the Ministry of Finance, which mainly looks at the economic aspect. Beyond that, he said, there are also technical issues being worked on by other Ministries, and at the appropriate time there will be a discussion at the Government level.

CNA/MCH/EPH/2025

ENDS, CYPRUS NEWS AGENCY