Cyta is calling for modernisation of its institutional framework to operate equally in the open energy market, arguing such a development would benefit consumers and the economy.
In an announcement from the Board of Directors and Management, the organisation said the convergence of technology and energy is a European reality, whilst the legislation governing its operation has remained unchanged for decades.
It noted that other public law organisations, such as the Electricity Authority of Cyprus, have broader institutional frameworks and operate in additional sectors.
Green energy focus
Cyta said it seeks equal institutional flexibility with private providers, who can expand into the energy sector. Its strategy focuses on providing green energy from Renewable Energy Sources to consumers without access to photovoltaics, such as tenants, apartment residents and small businesses.
The organisation intends to sign agreements with RES producers and, in time, examine self-production with storage, clarifying that most energy will come from third parties. It stressed that any activity will comply with the Cyprus Energy Regulatory Authority’s provisions, within the already open and competitive market.
Bundled packages and competitiveness
The organisation is also examining the creation of bundled packages that would include energy, telecommunications services and technological solutions, aiming to reduce costs and environmental footprint.
Cyta warned that potential rejection of the modernisation bill would impact its competitiveness, noting that the strategic expansion into the energy sector is supported by the organisation’s unions.
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