In two months, when the gap analysis report is delivered, crucial decisions are expected regarding the construction of the LNG terminal in Vasilikos, according to the Minister of Energy.

Speaking on the program Trito, Giorgos Papanastasiou noted that there is also a positive scenario. Based on this, the ETYFA has already prepared the tender documents, and once the findings of previous reports are reviewed, the project could move forward toward completion.

Regarding the electricity interconnection cable between Cyprus and Greece, the Minister stated that some internal matters remain before the first €25 million payment from the Republic of Cyprus to ADMIE can proceed. However, he stressed that the implementing body also has obligations to fulfill.

Meanwhile, a new subsidy scheme for home electricity storage is being prepared by the Renewable Energy and Energy Saving Fund. The plan targets consumers who have already installed photovoltaic systems, aiming to ensure greater independence in storing and using the electricity they generate.

Papanastasiou announced that applications for photovoltaic installations through the Electricity Authority of Cyprus (EAC) will be accepted until the end of 2025. This extension is due to the fact that net metering will not be available through the competitive electricity market, which is scheduled to open on October 1.

When asked about households already under the net metering scheme, the Minister clarified that they will remain in the program until their current contracts expire.

>>Net Metering vs. Net Billing in Cyprus: What Consumers Need to Know<<