Is Cyprus ready for full electricity market liberalisation?

Currently, Cyprus is in a transitional step before full electricity market liberalisation, which is being driven by the binding timetable of the Cyprus Energy Regulatory Authority (CERA) to ensure the full opening up of the energy market and granting consumers the right to choose their own supplier.

What percentage of Cyprus' electricity will come from renewables in 2030?

Based on this analysis, between 25% and 40% of Cyprus’ electricity supply can come from renewables in 2030, in the economically optimal mix. Solar PV is the predominant renewable energy technology in all scenarios, supplying between 15% and 27% of the electricity consumed in Cyprus in 2030.

Does Cyprus have a good share of renewables in energy supply?

Although lower than the EU average, the share of renewables in total energy supply can be regarded as satisfactory since Cyprus has overachieved the binding 13% national RES target – it attained a 17.0% share according to official statistics.

What is Cyprus' energy supply?

Cyprus’ total energy supply consists by 85% of fossil fuels, of which petroleum products dominate. Some diversification will happen once the Cyprus LNG import terminal is in operation, so that most of the thermal power plants will run on natural gas.

What if Cyprus does not have a natural gas supply?

As explained in Section 3.1.3, in the absence of natural gas supplies and hydrogen infrastructure, diversification of energy supply for Cyprus is equivalent to accelerating the use of renewable energy, and the relevant gaps have been addressed in the previous paragraphs. d. Reducing fossil fuel consumption in industry

Why does Cyprus have a high electricity price?

Cyprus has one of the highest electricity prices in Europe, due to high reliance on liquid fuel for power generation. However, a major transition is imminent for electricity supply. On one hand, indigenous natural gas discoveries are to be developed in the coming years.