By the end of July, ADMIE is expected to submit a complete dossier to the regulatory authorities of Cyprus and Israel, officially requesting investment approval for the Great Sea Interconnector.

According to an ADMIE information note, a cost-benefit study presented by ADMIE as the project promoter to the Cyprus Energy Regulatory Authority (CERA) and Israel’s Public Utilities Authority (PUA) confirmed the significant advantages for both Cyprus and Israel stemming from the second segment of the Greece–Cyprus–Israel electricity interconnection, the Great Sea Interconnector.

The study, ADMIE states, was carried out by Exergia in collaboration with the National Technical University of Athens. ADMIE plans to submit the full dossier to the competent regulatory authorities of both countries by the end of July, including its official investment request. This will enable the authorities to issue a joint decision on the Cross-Border Cost Allocation, which concerns the distribution of project costs among the participating countries and guarantees the project’s revenue stream.

“These procedures represent the first critical step for the project’s maturity under the European TEN-E Regulation, aiming to establish the necessary regulatory framework to secure its revenue and subsequently initiate construction,” the note concludes.

“The government’s prolonged silence regarding the electricity interconnection project (Great Sea Interconnector) heightens the concerns that AKEL has long expressed,” the party stated on Tuesday, July 1.

According to AKEL, “While the government assures that the project will proceed as planned, it must respond to alleged warnings from ADMIE about halting the project if the demanded expenses are not covered.”

AKEL recalled its consistent efforts to promote oversight and transparency, noting that “the majority in Parliament approved an annual payment of €25 million — for five years — for a project riddled with ambiguities and unanswered questions.”

As highlighted in the statement, “The Cypriot taxpayer has a right to know what they are paying today and what they will be asked to pay in the future. The government must finally answer critical questions about the project’s viability, its final cost, and its funding.”

Regarding this high-cost project of strategic importance for the country's future and energy security, AKEL insisted that transparency is essential to prevent yet another incomplete infrastructure that could result in significantly higher electricity prices for society.

“Above all, the public interest, the economy, and the protection of consumers must be safeguarded,” AKEL emphasized.

Meanwhile, in a statement today, the President of the Republic clarified that “the decisions taken by the Cypriot government concern a specific amount, 25 million euros over five years.” He stressed, “It is crucial that the Cypriot consumer is not burdened, and this will be ensured.”