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Cable: 400 euro profit per year for households, ADMIE promises

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Καλоδιο: Κερδο συρτοσοκορι υπoσχεται ο ΑΔΜΗΕ /></p> <p><strong>With its announcement yesterday, ADMIE, the implementing body of the Cyprus-Crete electricity interconnection, informs about developments surrounding its promotion but also indirectly responds to the concerns recently expressed by the Cyprus Electricity Market Association about the consequences that interconnection will have for consumers but also for the investments of energy companies.</strong></p> <p>In the field of informing the productive bodies of Cyprus, it is stated in the announcement, the administration of ADMIE had on 13/6, a detailed discussion with the Federation of Employers & Industrialists (OEB) for the benefits and technical characteristics of the project. ADMIE points out that SAE also participated in the discussion.</p> <p>According to the implementing body, the inclusion of Cyprus, through the interconnection, in the single electricity market will ultimately lead to a convergence of the electricity prices of Cyprus with those of the rest of Europe, to the benefit of private and corporate consumers. <strong>ADMIE calculates the benefit for consumers in Cyprus with a consumption of 5,000 KWh (kilowatt hours) per year at 400 euros per year.</strong></p> <p>It also argues that through the interconnected system, the RES energy produced in Cyprus will find an outlet to demand, which gives an advantage to Cyprus' RES (mainly PV) producers who produce cheaper compared to Eastern and Northern Europe (p. F. but they sell more expensive today). This means that,<strong>once Cyprus is interconnected, the large RES output of its stations (mainly PV) that will need to be installed on the island to achieve very high RES penetration targets, turns Cyprus into an exporting country for excess RES generation .</strong></p> <p>Responding, apparently, to the concerns of the producers in Cyprus what will happen to their investments after the operation of the interconnection, ADMIE states the following: “Given that natural gas is a transitional fuel for Cyprus as well in the common course of decarbonization of Europe until 2050 , in accordance with the country's commitments to the European Green Agreement, PV production units together with other conventional fuel units, when the penetration of RES will have increased significantly, will operate on the basis of reserve or supplementary operation through a power mechanism for reserve – flexibility (capacity mechanism)”.</p> <p>We remind you that the SAE (Electricity Market Association, part of the OEB) had mentioned in its own recent announcement that the backup-supplementary operation of Cypriot production units <strong>will bring additional costs to consumers.</strong></p> <p> <strong>They are looking for the route</strong></p> <p>ADMIE also informed that the contractor of the cable sections <strong>Nexans</strong> received the “green” from the Commission for Granting Marine Research Licenses (HEXAETH) light, in order to start bottom surveys. The ship on behalf of the French company will immediately start mapping the seabed, in order to choose the optimal route for the submarine cable that will connect Cyprus to Crete.</p> <p><em>We remind you that the Government has made clear to ADMIE that its final decision on whether or not to participate in the share capital of the Great Sea Interconnector with 100 million euros will be made <strong>only after it submits the final cost-benefit study</strong> for the project and after the study is evaluated by an international house.</em></p> <p><noindex></p> <div class=Source: 24h.com.cy

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