Northern Cyprus container power generation imports

Who imports natural gas in Cyprus?

A decree in 2008 designated DEFA as the sole importer and distributor of natural gas in Cyprus. Cyprus is totally dependent on imports for its supply in conventional energy. The only national resources are solar, wind and wood. Recent discoveries of offshore gas could radically change the situation.

What percentage of electricity is installed in Cyprus?

EAC, the national electricity company, accounts for 65% of the installed capacity. Cyprus has not granted any exploration licences for new gas or oil blocks. Oil accounts for 79% of the power mix (2023). Solar capacity is increasing rapidly and has nearly tripled since 2020, reaching 606 MW in 2023.

Does Cyprus have a competition problem?

Promoting competition remains difficult given the small size of the domestic market. The Cyprus Energy Regulatory Authority (CERA), in cooperation with the Transmission System Operator (TSO) and other energy stakeholders, is working to alleviate competition constraints in the power generation sector.

Does Cyprus have oil & gas exploration licences?

Cyprus has not granted any exploration licences for new gas or oil blocks. Oil accounts for 79% of the power mix (2023). Solar capacity is increasing rapidly and has nearly tripled since 2020, reaching 606 MW in 2023. Electricity prices are impacted by global oil prices. They nearly doubled between 2020 and 2023 and decreased by 10% in 2024.

Does Cyprus still have a monopoly on electricity?

In 2014, the Republic of Cyprus ended the state-owned Electricity Authority of Cyprus’s (EAC) monopoly on electricity generation and distribution. Promoting competition remains difficult given the small size of the domestic market.