Nicosia, Cyprus. Reducing electricity prices is the government’s top priority, President Nikos Christodoulides said, describing lower energy costs as an achievable target.
Energy prices
In a wide-ranging interview with ANT1 on Monday night, Christodoulides said his main concern was reducing electricity prices and, more broadly, addressing energy policy.
He acknowledged that electricity prices remained high despite government interventions. However, he said measures including a reduction in VAT had eased the burden on households by increasing disposable income.
“It is an achievable target and we will achieve it,” he said.
Renewable energy and storage
Christodoulides said the government inherited an energy system in which investment in conventional generation and storage infrastructure had been neglected for many years.
Renewable energy accounted for around 17 to 18 per cent of Cyprus’ energy mix when his administration took office, compared with about 25 to 26 per cent today, he said, while acknowledging that the level remained below what was needed.
“We need to exceed 50 per cent,” he said.
The president said previous governments had licensed renewable energy projects without ensuring sufficient storage capacity, contributing to current grid stability problems.
He said the government would begin acquiring energy storage systems this year to store electricity for security of supply and system balancing.
Other issues
During the interview, Christodoulides also discussed pension reform, corruption, the government’s handling of recent crises, and his relationship with parliament and the opposition.
He said he would decide in 2027 whether to seek a second term, rejecting suggestions that his administration was already operating in campaign mode.
