Cyta's planned entry into the electricity market triggers response from EAC

Cyta, the Cypriot telecommunications provider, has announced plans to enter the energy sector by supplying electricity from renewable energy sources (RES). Chairwoman Maria Tsiakka Olympiou stated that the organization aims to target specific consumer groups, such as apartment residents and small businesses, who are unable to install their own solar panels. The proposed strategy includes offering bundled packages of energy, telecommunications, and technology services. However, the Electricity Authority of Cyprus (EAC) Chairman, Giorgos Petrou, expressed concern that this move creates unfair competition between two state-owned entities. He emphasized the need for consultation before legislative changes allow Cyta to operate as a supplier. Meanwhile, EAC is proceeding with its own investments, including the finalization of contracts for large photovoltaic parks. Additionally, EAC has awarded a tender for an energy storage system in Dhekelia, a project costing approximately €40 million with an 18-month implementation timeline. Cyta's leadership argued for equal treatment, noting that EAC has held a telecommunications license since 2003.