Cyprus parliament amends legislation on electricity market regulation

On Thursday, the Cyprus House of Representatives approved a bill amending the electricity market regulation law. The proposal, submitted by Kyriakos Hadjiyiannis, Nikos Sykas, Michalis Giakoumi, and Stavros Papadouris, passed with 21 votes in favor and 13 against, with AKEL members and MP Irene Charalambidou opposing it. The law allows the Cyprus Energy Regulatory Authority (CERA) to extend licenses for electricity production plants or energy storage facilities. Extensions require a reasoned decision and proof that the investor has the necessary technical and financial capacity. Extensions are capped at one year at a time, with a total maximum duration of five years. Additionally, the legislation introduces new transparency requirements for grid connection applications. Investors must provide documentation during the first extension request and proof of a grid connection offer for subsequent requests. The bill also mandates new reporting obligations for the Distribution and Transmission System Operators.