OEB and CERA discuss measures to reduce electricity costs

A meeting between the leadership of the Employers and Industrialists Federation (OEB), led by President George Pantelides, and senior management of the Cyprus Energy Regulatory Authority (CERA) took place recently.

The discussion centered on the conclusions of the High Level Laboratory on Reducing Electricity Costs, organized by OEB on July 15, 2026, with participation from all stakeholders.

OEB aims to continue institutional dialogue, exchange views, and discuss suggestions to improve the electricity market and gradually reduce energy costs.

The meeting addressed issues from the first year of the Competitive Electricity Market, including the availability of metering data, market clearance procedures, and enhancing transparency and charge predictability.

Specific topics included addressing renewable energy production cuts, accelerating energy storage development, modernizing networks, and utilizing smart meters and dynamic pricing for the benefit of businesses and consumers.

OEB President emphasized the importance of stakeholder coordination and cooperation to tackle high energy costs. OEB will continue initiatives and promote suggestions for tangible economic and societal benefits.