Analysis predicts significant consumer savings from the Great Sea Interconnector

A new study presented at the Institute of Energy for South-East Europe (IENE) conference by Professor Pantelis Biskas highlights that the Great Sea Interconnector (GSI) project could save electricity consumers in Greece and Cyprus up to 138 million euros annually. The simulation, which models the operation of the Greek and Cypriot electricity grids for the year 2035, suggests that Cyprus would derive the greatest economic benefits from the interconnection by gaining access to cheaper energy imports.

The research evaluated three different cable capacity scenarios of 500, 750, and 1,000 megawatts (MW), concluding that annual savings for consumers would range between 123 and 138 million euros depending on the selected capacity. The project is primarily designed to integrate regional electricity markets, enhance energy security, and increase the utilization of renewable energy sources.

However, the study notes that the projected economic advantages could be noticeably reduced if Cyprus manages to secure cheaper natural gas for its domestic power generation. This analysis serves as a key reference for evaluating the project's viability and its role in regional energy strategy moving forward.