The commercial operation of Cyprus’s Competitive Electricity Market will begin on 1 October, the Cyprus Energy Regulatory Authority (CERA) announced.
According to CERA, the launch marks a new era in the electricity sector, aiming for a fully liberalised market where producers, suppliers and final customers can freely decide, through bilateral agreements, how to manage and compensate the electricity generated and injected into the grid from their own production systems.
From October 1, final customers not enrolled in an energy net-metering scheme or any other plan of the Ministry of Energy, Commerce and Industry will be entitled to act as active customers or self-consumers of renewable energy. They will be free to choose how to manage surplus electricity fed into the grid, either through bilateral agreements with an Aggregator participating in the market or with their supplier.
Customers already contracted under a Ministry scheme will continue under their existing agreements. Once those contracts expire, they will shift to a net-billing arrangement, the duration of which will be decided between the customer and their supplier. However, CERA notes that customers will also have the right to opt out of net-billing and follow the new liberalised framework.
CERA stressed that the full framework for final customers as active participants and self-consumers of renewable energy is outlined in its Regulatory Decision No. 02/2024, and urged interested parties to consult the decision for a detailed overview of their rights.
CNA
