Paphos, Cyprus. Cyprus stakeholders called for immediate measures to cushion expected energy cost rises while urging market regulation and warning that cheaper electricity would require major public investment. In separate developments, construction sector representatives sought stronger coordination, and hoteliers reported a slowdown in bookings ahead of the tourism season.
Energy costs and electricity market regulation
Scientific and technical chamber (Etek) president Constantinos Constanti said in a written statement that immediate relief measures can still be taken to cushion the expected rise in energy costs, while warning that longer-term solutions for cheaper electricity will require major public investment.
He said the measures cited by the auditor-general as potential routes to lower-cost electricity would depend on extensive state spending, the burden of which would ultimately fall on consumers and taxpayers.
Constanti repeated Etek’s call for regulation in the competitive electricity market, so that part of the financial benefit arising from commercial photovoltaic parks and private commercial storage is passed on to consumers through a lower kilowatt-hour price.
He said this was necessary because such projects operate at lower costs than conventional generation, while the public will still be expected to shoulder the cost of wider infrastructure investment.
Construction sector meeting in Paphos
Cyprus’ construction sector needs closer coordination between contractors, engineers, architects and the state to deal effectively with pressures including regional instability, labour shortages and delays in licensing, stakeholders said after a joint meeting in Paphos.
The meeting, held on Saturday on the initiative of the association of building contractors (Oseok), brought together Transport Minister Alexis Vafeades, Etek president Constantinos Constanti and the heads of key professional bodies across the sector.
According to Oseok, the discussion pointed to the need for stronger cooperation and more regular dialogue to shape common positions and coordinated proposals as part of a broader push to modernise and upgrade the construction industry.
Issues raised included the impact of the geopolitical crisis in the Middle East, faster licensing procedures, labour attraction, the review of public contracts and the promotion of the Cyprus Joint Construction Contracts Tribunal.
Tourism bookings slow ahead of season
Cyprus hoteliers in Ayia Napa, Protaras and Larnaca warned of a sharp slowdown in bookings ahead of the new tourism season, as the war in the Middle East continues to weigh on travel demand.
According to Politis, hotel operators in the Famagusta district said cancellations are now affecting mainly April and May, while the flow of new reservations has weakened as most tourist accommodation prepares to reopen by the end of March or early April.
What steps do you think should be prioritised to protect consumers and support key sectors ahead of the new season?
