Applications for the net metering scheme for photovoltaic systems will be accepted until the end of the year, announced Energy Minister George Papanastasiou in a statement to Cyprus News Agency. At the same time, he noted that two important reports on the progress of the liquefied natural gas (LNG) terminal project at Vasilikos are expected, with the first due in the coming days.

Referring to the net billing scheme, the Minister explained that the energy generated by a rooftop photovoltaic system, which is not consumed, is sold to the Electricity Authority of Cyprus (EAC) at a set price. In the case of net metering, unused generated energy is injected into the grid, with a fee applied for grid usage.

Mr. Papanastasiou pointed out that all European countries have already phased out net metering. The Ministry of Energy initially intended to abolish the scheme in Cyprus from August 1. However, following numerous requests from citizens for an extension until October 1, the Ministry decided to grant it.

“Since the competitive electricity market begins on October 1, we decided not to introduce additional changes. Therefore, net metering applications will be accepted until the end of the year,” he clarified. As a result, the Renewable Energy and Energy Efficiency Fund will continue to accept subsidy applications until December 31, but not beyond January 1, 2026.

The Minister further explained that participants already under the net metering scheme will remain in it until their contract expires. However, consumers may choose to switch from net metering to net billing if they find it more financially beneficial.

Responding to a question about the LNG terminal project at Vasilikos, Mr. Papanastasiou stated that two significant reports have already been submitted to ETYFA, outlining the project’s progress.

He added that a third report, the engineering review, is expected in the coming days, while a fourth report—the gap analysis of installed and purchased materials—is also underway. “There is a steady flow of reports to ETYFA that began at the end of August. ETYFA has essentially determined how the project should proceed correctly, but the project’s consultant continues to provide additional reports,” he noted.

Regarding the fourth report, the Minister estimated it will be ready in about two months.

The new developments regarding the LNG regasification terminal in Vasilikos prolong the ongoing stagnation, AKEL stated in an announcement on energy issues.

According to the statement, in light of the findings presented by the project’s new consultant, Technip Energies, it is now clear that the government’s timelines have once again been cancelled. Both the start and completion of the project are being pushed far into the future.

AKEL added that the Minister of Energy had reassured the public that the project would be completed by the end of 2025, citing a supposed “Plan B.” In reality, however, no “Plan B” or alternative plan ever existed. As a result, another critical project has effectively been frozen, leaving Cyprus with the cost of failure, the looming risk of blackouts, and the burden of excessively high energy prices.

“The government’s announcements and statements will not bring affordable electricity,” the party stressed. “What is needed is a responsible and concrete plan, along with immediate and substantial support measures for society, which continues to bear the consequences of the opportunism and incompetence of both the Anastasiades-DISY government and the Christodoulides administration, which has also failed to provide solutions,” the announcement concluded.