Cyprus employers' federation reports on energy challenges and green transition

Ahead of its annual general meeting on April 28, 2026, the Cyprus Employers and Industrialists Federation (Oev) issued a report regarding the nation's 2025 energy and environmental landscape. The federation stated that high energy costs remain a significant threat to the competitiveness of Cypriot businesses. While the country continues to pursue national and EU climate neutrality goals, Oev emphasized the need for a fair and realistic green transition. Key developments noted include the full operation of the competitive electricity market, which is expected to enhance competition and efficiency over time. The federation highlighted the growing importance of electricity storage projects to improve system flexibility and increase the integration of renewable energy. Additionally, the Great Sea Interconnector project was addressed as a major strategic initiative. Oev noted that the project is currently surrounded by technical, financial, and geopolitical uncertainties. Consequently, the organization has called for greater transparency and a thorough cost-benefit analysis. They also advocate for the consideration of alternative energy options to safeguard the national economy.