Cypriot parliament approves Cyta's entry into the energy sector

The Cypriot Parliament has passed a bill allowing the state-owned telecommunications organization, Cyta, to expand its operations into the energy sector. The legislation was approved with 29 votes in favor, 2 against, and 14 abstentions, primarily from AKEL and MP Irini Charalambidou. Opposing votes were cast by MPs Andreas Themistocleous and Pavlos Mylonas. During the session, a DISY amendment was adopted with 32 votes in favor and 14 against, which explicitly prohibits Cyta from engaging in conventional energy production. Two additional amendments proposed by AKEL aimed at setting regulatory conditions were rejected. MP Andreas Themistocleous argued that the bill could distort competition by allowing state-backed entities to compete with the private sector without sufficient consultation. Conversely, MP Kostis Efstathiou supported the move, suggesting it would help break existing oligopolistic market conditions and improve competition in the electricity sector.