Minister tells CNA we will have to wait and see whether electricity prices drop in competitive market
The Minister noted that the trial period, which began in January 2025, usually lasts for six months, and the due date was in July 2025 The competitive electricity market has not been extensively tested in smaller markets like Cyprus, and therefore "we will see as we go along" whether electricity prices will decrease, Energy Minister, George Papanastasiou, told CNA. The Cyprus Energy Regulatory Authority (CERA) announced on Wednesday that the commercial operation of the Competitive Electricity Market is set for September 15, 2025, with October 1, 2025, designated as the first Trading Day. Asked by CNA whether a the transition to a competitive electricity market will lead to a decrease in the final electricity price for consumers, the Minister said that historically, in other, larger markets, prices usually remained stable when the competitive market was first launched, and then gradually fell due to competition. "In a smaller market...
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