In order to address the climate change challenges, the Cyprus Government as well as EAC, have proceed with the establishment of an energy policy
Governmental energy policy
The Governmental energy policy is fully harmonized with that of European Union with the main axes, the ensuring of the healthy competition in the market, the ensuring of energy supply and the satisfaction of the energy needs of the country with the smallest burden on the economy and the environment.
Climate change challenges
EAC aims to lead the effort made by Cyprus to reduce carbon dioxide emissions by 20% by 2020 compared to 1990 levels, by reducing the emissions which are related with its activities.
EAC energy policy
Independency of power generation from oil and the use of other sources more environmental friendly for power generation.
GOVERNMENTAL ENERGY POLICY
The Governmental energy policy is fully harmonized with that of European Union with the main axes, the ensuring of the healthy competition in the market, the ensuring of energy supply and the satisfaction of the energy needs of the country with the smallest burden on the economy and the environment. The application of the above is implemented through:
• The liberalisation of the electricity and gas market by ending the monopoly of the EAC in the production and supply of electricity and paving approximately 35% to free competition.
• The liberalization of the oil market by removing the price and cross-subsidies between the various fuels control system, pricing based on the rules of the free market and the adjustment of taxation.
• The creation of strategically and operational oil stock storage terminals.
• The implementation of development programs and use of energy saving technologies, exploitation of domestic RES technologies and protection of the environment from industrial pollution.
• The use of mineral oil and other forms more friendly to the environment of energy, like natural gas.
In addition, in 2010 the Cyprus RES national plan was compiled, which set the goals of Cyprus for each RES technology up to 2020. This Action Plan is validated every two years.
CLIMATE CHANGE CHALLENGES
EAC as an energy company recognizes that besides been part of the problem, we are also part of the solution. Therefore, we’re playing a leading role in the effort to reduce carbon emissions together with our stakeholders. As a first step, we need a diverse range of energy sources which must secure enough low carbon dioxide emission affordable energy for the long term, for example RES. In addition to that, with the arrival of natural gas, the emissions of the EAC power plants will be significantly reduced by the use of this low carbon dioxide emission fuel in the place of the high carbon dioxide emission diesel and HFO fuels. We have made huge investments in technical equipment and software aiming the continuing increase of the efficiency of the equipment and the reduction of the carbon dioxide emissions at the same time.
EAC ENERGY POLICY
EAC energy policy concerns the independence of power generation from oil and the use of other sources more environmental friendly for power generation, such as natural gas and RES.