Cyprus, Greece and the European Commission are looking for a mechanism through the EU to financially support the Cyprus-Greece electricity interconnection project
< p>In search of mechanism, via EU, so as not to burden the consumer and to financially support the Cyprus-Greece electrical interconnection project (Great Sea Interconnector – GSI), in case the GSI needs financial support, Cyprus, Greece and the European Commission are , according to valid information from the KYPE.
More specifically, the Cypriot Government, according to the information, is in dialogue with Greece and the EU in its attempt to find a way that is legal, based on the way the EU operates for cases where there is cooperation of a private project implementation body (PIP). and two member states of the Union (Cyprus, Greece) that want to help their consumers in matters of electricity costs.
The goal of the dialogue is to find a mechanism, and in particular a legal methodology to clearly viable the projectduring the period of its construction, so as not to burden the consumer and at the same time to strengthen the project.
On the other hand, the Cypriot regulatory authority, CERA, should indicate in a short period of time whether there is a financial gap and how much this is in relation to the sustainability of the GSI during its construction, since it is proven that the project during its operation is sustainable, the same information states.
However, according to the information of CYPE, the project is slightly sustainable during its construction and for this reason the Republic of Cyprus is looking through the EU for legal ways, so that it can not burden the consumer and further strengthen the project financially.
According to with international investment practice, when a project is judged to be slightly viable during its construction, then it does not attract investors, because investors look to see – even in regulated projects and with certain profits when they operate – something to make the project viable, while it is not yet operational.
