Cyprus, Greece, and the European Commission are exploring the creation of a mechanism, through the EU, to financially support the Cyprus-Greece electricity interconnection project (Great Sea Interconnector - GSI) without placing a burden on consumers, according to reliable sources from the Cyprus News Agency.

Specifically, the Cypriot government is engaged in dialogue with Greece and the EU to find a legal framework that aligns with EU regulations.

The goal of these discussions is to establish a mechanism, particularly a legal methodology, to ensure the project's viability during its construction phase, ensuring that consumers are not burdened and that the project receives the necessary financial support.

Meanwhile, the Cyprus Energy Regulatory Authority (CERA) must soon determine whether there is a financial gap in the project's viability during its construction phase and, if so, quantify that gap. It has already been established that the project is viable during its operational phase, according to the same sources.

>>CERA's Decision Must Be Respected, But It Also Needs to Be Explained<<

However, the information provided to CNA indicates that the project is only slightly viable during its construction phase. This has prompted the Cypriot government to seek legal ways through the EU to prevent any additional burden on consumers while further financially supporting the project.