A meeting with a delegation of the Israeli Energy Ministry, the Regulatory Authority as well as the country’s Administrator, was held in Cyprus by the administration of IPTO under the president and CEO Manos Manousakis and the Vice President Ioannis Margaris, during which the strong interest of Israel was confirmed for the electrical Great Sea Interconnector.
The Director General of the Energy Ministry, Yossi Dayan and the Chairman of the Israel Energy Regulatory Authority, Amir Shavit, confirmed the Israeli government’s full support for the project, which, as emphasized, will strengthen the country’s energy security due to increased interconnectivity, contribute to the ‘greening’ of the electricity generation mix and will offer significant geopolitical benefits for the wider region.
During the meeting with the representatives of the Israeli authorities, the timetable for the implementation of the Cyprus-Israel interconnection project was thoroughly discussed, while it was agreed to set up technical teams in order to speed up the preparation of the cost-benefit study (CBA), so that it is ready next fall.
Regulatory issues and issues related to market operation were also thoroughly analyzed, including the technical details of Israel’s access to the European electricity market.
A tripartite meeting with representatives of the Administrators and Regulators of the two countries was held at the Cyprus’ Energy Ministry.
During the meeting, the steps to be followed by the Regulators in cooperation with IPTO for the maturation of the Cyprus-Israel electrical interconnection project were discussed.
All parties recognized the need to speed up the project implementation processes, with the Israeli side considering the finalization of the cross-border cost allocation (CBCA) within 2024 as an important step.
The Greece-Cyprus-Israel electrical interconnection project will mark the electrical interconnection of Cyprus – the last non-interconnected EU member state – with the European transmission system, ensuring the island’s strong energy shield.
