The EuroAsia Interconnector company has presented to the Electrical Authority of Cyprus the master-plan of the new submarine electric cable, which will connect Israel, Cyprus and Greece, as reported by the Financial Mirror.
According to the plan, the company will cover the associated expenses. The actual costs will be around 3,5 billion Euros.
The mutual benefit from the cable of the 3 countries is estimated to be around 10 billion Euros. In particular it will improve the consumption of the fuel, reduce the dependence from the non-ecological sources of energy and will strengthen the energy security. All of the above shall lead to the reduction of tariffs for electrical supply both for industry and for private consumers.