Cyprus Parliament accepts presidential referral on electricity market amendment law

The Plenary of the House of Representatives of Cyprus voted to accept the President's referral regarding the amending law for the electricity market with 26 votes in favor and 12 abstentions from AKEL. The legislative changes were deemed necessary to resolve legal ambiguities, ensure compliance with EU law, and address administrative law principles regarding investor trust and retroactivity. The law regulates the duration and conditions for extending permits for electricity generation and storage projects, as well as their connection to distribution networks. Key amendments include the removal of requirements for connection offer certificates and the introduction of quarterly data updates. The Cyprus Energy Regulatory Authority (RAEK) is now tasked with reviewing preliminary connection terms rather than applying new provisions automatically. DISY MP Kyriakos Hadjiyiannis stated that the original proposal sought to eliminate a 'black market' in license trading that burdened consumers. The Parliamentary Committee on Energy unanimously supported these amendments following the presidential intervention.