The European Investment Bank (EIB) is expected to deliver an opinion on the Cost-Benefit Analysis prepared for the Great Sea Interconnector by the upcoming November. This key decision by the EIB is considered extremely critical, as it will determine the decision of the Republic of Cyprus regarding the connection of Cyprus to the Great Sea Interconnector.

Sources from Brief indicate that "before the government gives the green light for the electrical connection, it will study all the reports and data available and that will be available in the coming months, considering that the entire project is both risky and complex."

The Minister of Finance, Mr. Makis Keravnos, stated yesterday during the midday news program on Antenna that "there are gray areas on many issues, for which the Ministry of Finance, in order to finalize its position, needs to have all the data."

He particularly emphasized that "there must be assurance on how Turkey will react, and there needs to be serious assurance. If there is any disruption in the pace of the project's implementation and an agreement emerges that is not in favor of consumers, then there will be very serious problems for both the economy and consumers." Essentially, as Mr. Keravnos mentioned, the Ministry of Finance is waiting to see the evaluation of the cost-benefit analysis, which it has sent to the European Investment Bank for this purpose.

According to Brief, the main objective of the Transmission System study is to ensure the development of an adequate Transmission System:

First, by ensuring the safe operation of the Transmission System.

Second, by operating at a high level of security of electricity supply.

Third, by safely supplying users.

Fourth, by ensuring the efficient operation of the System and contributing to a sustainable energy supply.

According to Brief, critical parameters are taken into account in the planning process, such as the requirements and regulations derived from Community Legislation regarding the European electricity market, the EU’s policies and goals, the national legislative and regulatory framework, the safety of people and infrastructure, environmental policies and constraints, the transparency of the procedures followed, and economic efficiency.