Oev and CERA discuss measures to improve electricity market and reduce costs
Oev and CERA reviewed proposals on market operations, renewable energy curtailments, storage, networks and flexible electricity pricing.
Nicosia, Cyprus. The Employers and Industrialists Federation (Oev) and the Cyprus Energy Regulatory Authority (CERA) have discussed measures to improve the electricity market and gradually reduce energy costs, Oev said on Wednesday.
Market operation
The meeting brought together Oev president George Pantelides and senior CERA management to review the conclusions of a high-level workshop on reducing electricity costs organised by Oev on July 15.
Representatives of all relevant stakeholders attended the workshop.
The discussions focused on issues that emerged during the first year of operation of the Competitive Electricity Market, including the quality and timely availability of meter data, market settlement procedures, and the need for greater transparency and predictability in charges.
Energy infrastructure and pricing
The two sides also discussed ways to address renewable energy production curtailments, accelerate the development of energy storage systems and upgrade electricity networks.
They examined the use of smart meters and dynamic tariffs, which Oev said could provide benefits for businesses and consumers.
“Coordination and cooperation among all stakeholders are essential for addressing the high cost of energy,” Pantelides said.
Follow-up measures
Oev said the meeting was part of its efforts to follow up on issues identified during the July workshop and promote measures that could improve the functioning of the electricity market.
The federation has been advocating changes aimed at making electricity costs more manageable for businesses while addressing technical and regulatory issues affecting market operations.
Oev said greater use of energy storage, smarter electricity networks and more flexible pricing could contribute to a more efficient market and help consumers make better use of electricity.
It added that it would continue taking initiatives and submitting proposals that could lead to tangible results for the economy and society.
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