Τhe need to amend the regulatory framework in order for the Greece-Cyprus-Israel electrical interconnection project to proceed smoothly, was underlined by the chairman and CEO of the Independent Power Transmission Operator (IPTO), Manos Manousakis, speaking at the 9th Energy Transition Symposium organized by the Hellenic Association for Energy Economics.
“We want the regulatory framework to be completed on time. A decision is already under consultation that will have to undergo some changes, in order to make the project sustainable and to continue to repay the cable manufacturer,” he emphasized.
Manousakis pointed out that the IPTO undertook the construction of the interconnection based on the existence of a regulatory framework that will not create a risk of financial loss for the Operator, noting that the delay in its completion caused uncertainty for the project.
The cost-benefit study in June
He added that at the beginning of June the IPTO management will present to Cyprus the cost-benefit study – on the basis of which the Republic of Cyprus will decide its participation in the project – the results of which will be “very positive for the project,” he commented.
