Parliamentary committee reviews one year of the competitive electricity market

The Parliamentary Committee on Energy held a session on Tuesday to evaluate the performance of the Competitive Electricity Market (CEM) one year after its launch in October 2025. The discussion was initiated by AKEL members Andreas Pasiourtidis, Giannakis Gavriel, and Konstantinos Konstantinou, who sought to assess whether the market reform has met its primary objective of reducing energy costs for end consumers.

During the session, lawmakers and stakeholders highlighted significant structural malfunctions that have hampered the market's efficiency. Key issues identified include a limited number of active market participants, technical constraints within the electrical grid, and insufficient development of energy storage infrastructure. Additionally, concerns were raised regarding frequent curtailments of renewable energy sources and the persistence of high electricity prices for both households and businesses. While the initial goal was to foster competition to drive down costs, critics and opposition members noted that the promises of lower prices made during the implementation of the Target Model have not materialized.

Representatives from private producers and suppliers notably did not attend the session to address these criticisms or the discrepancy between projected outcomes and current market realities. The committee's review serves as a formal acknowledgment of the systemic failures currently affecting the sector.