Debate over Fidias Panayiotou's proposal for 20% electricity cost reduction

In August 2026, Fidias Panayiotou, MEP and leader of the Direct Democracy party, launched a campaign challenging President Nikos Christodoulides to intervene in the energy market. Panayiotou claims that commercial photovoltaic parks produce electricity at 5–8 cents per kilowatt-hour but sell it for 25–30 cents, arguing that state intervention could reduce consumer electricity bills by 20%.

The Energy Market Association (EMA) and the Employers and Industrialists Federation (OEB) have strongly rejected these claims as inaccurate and populist. They argue that solar parks represent only about 6.4% of traded energy and that Panayiotou’s calculations ignore operational costs, investment financing, and frequent production curtailments. Furthermore, officials noted that the Cyprus Energy Regulatory Authority (CERA), not the President, holds the legal authority to set electricity prices.

Government spokesperson Konstantinos Letympiotis stated that the government is already implementing targeted measures to lower energy costs, citing data from Eurostat that showed a 15% decrease in electricity prices in late 2025 compared to the previous year. Meanwhile, the Cyprus Chamber of Commerce and Industry (CCCI) continues to advocate for structural reforms, including the faster integration of natural gas for power generation to improve national economic competitiveness.