A preliminary agreement that "will lead to the implementation of the Greece-Cyprus-Israel submarine power connection" was reached during Monday's consultations between the relevant Greek and Cypriot authorities, according to information from ADMIE (Independent Power Transmission Operator).

According to the same sources, the agreement includes the issuance of two decisions by the Cyprus Energy Regulatory Authority (CERA), which will determine the revenue and regulated return of the project.

ADMIE sources indicated that if the agreement's provisions are implemented, the project becomes viable. Otherwise, the project appears headed for a definitive collapse.

Lastly, it was noted that the same sources mentioned contact with the cable manufacturer to ensure the continuation of cooperation, provided the agreement proceeds by Friday.

There is currently no final agreement on the regulatory framework for the Cyprus-Crete power link, stated Victor Papadopoulos, Director of the Press Office of the President of the Republic.

Speaking on the RIK program "Apo Mera Se Mera," Mr. Papadopoulos mentioned that all parties involved are actively working towards reaching an agreement, and he urged patience until definitive decisions are made.

He emphasized that the government's priority is to reduce the price of electricity.

Mr. Papadopoulos reiterated that the government's plan focuses on three pillars: the introduction of natural gas, the electrical interconnection of the country, and the utilization of renewable energy sources.

He stressed that for the reduction of electricity prices to be feasible, progress must be made simultaneously across all three pillars.