Public debate intensifies over proposals for lower electricity prices in Cyprus

Member of the European Parliament Fidias Panayiotou has launched a social media campaign urging President Nikos Christodoulides to intervene in the electricity market. Panayiotou claims that commercial photovoltaic parks produce energy at 5-7 cents per kWh but sell it for 25-30 cents, arguing that government intervention could reduce household electricity bills by 20%.

Energy industry stakeholders, including the Energy Market Association (EMA) and the Cyprus Employers and Industrialists Federation (OEB), have rejected these claims as misleading and dangerous simplifications. The EMA stated that commercial solar parks represent only 6.4% of total energy traded and emphasized that Panayiotou’s figures fail to account for operational costs, overheads, and frequent production curtailments. Furthermore, officials noted that energy prices are set by the Cyprus Energy Regulatory Authority, not the President.

The government, represented by Spokesperson Konstantinos Letymbiotis, stated that it continues to implement targeted measures, such as VAT reductions and subsidies, while emphasizing that energy policy is complex. Industry groups, including the Cyprus Chamber of Commerce and Industry, continue to call for structural reforms, including the utilization of natural gas and better energy storage, to achieve long-term price stability.