Our commitments for sustainability
They are part of a larger package of initiatives for sustainable development.
Why is sustainability important?
For us, climate change, energy affordability and security of supply are the key global issues.
OUR COMMITMENTS FOR SUSTAINABILITY
Sustainability is part of our company’s long-term strategy. We want to lead the way in dealing with the environmental and social issues challenging our industry and we’ve set specific goals through our commitments for sustainability.
Our commitments for sustainability set our long term sustainability agenda. They set out how we’ll reduce carbon dioxide emissions and waste, help our customers and serve our communities.
We are aiming to be the best in our sector in line with our long-term approach to being a responsible and sustainable business, recognizing the hard work done by the people in our company and in the community in general.
WHY IS SUSTAINABILITY IMPORTANT?
For us, climate change, energy affordability and security of supply are the key global issues that require our immediate attention in cooperation with our stakeholders and as members of relevant European committees.
The world has begun to realize the devastating negative effects that climate change could have on our planet.
Security of supply
The security of supply is a key concern of our company and considerable investments are made both in the technical sector as well as in the training of the staff.
EAC supports its customers which belong to the category of vulnerable customers and generally tries to maintain always low prices.
The world is gradually realizing the devastating effects climate change could have on our planet. The extraction, production, distribution and consumption of fossil fuels greatly affect the quality of the natural environment on our planet. These problems affect our air quality, ecosystems, land and material resources, human health and global stability, as well as the aesthetic, cultural and recreational values of affected regions.
The EU is leading a global action on climate change by its commitment to cut its emissions to 30% below 1990 levels by 2020, provided that other developed countries commit to making comparable reductions under the future global agreement. The more economically advanced developing countries also need to commit to making an adequate contribution according to their abilities. At the same time, EU leaders committed to transforming Europe into a highly energy-efficient low-carbon economy. They underlined their determination to see the EU gain a ‘first mover advantage’ by committing the EU to cut emissions by at least 20% of 1990 levels by 2020, regardless of what action other countries take. These emissions targets are underpinned by three energy-related objectives, which are also to be met by 2020:
A 20% reduction in energy consumption through improved energy efficiency,
An increase in RES share of the market to 20% and
As part of RES effort, a 10% share for sustainably produced biofuels in petrol and diesel in each EU country.
As part of these actions, Cyprus has committed that the share of energy produced from RES must be at least 13% out of the gross national final consumption of energy in 2020. To do this will require a new approach in how we use and produce energy.
EAC as an energy company recognizes that besides being 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 towards increasing the efficiency of the equipment and reducing the carbon dioxide emissions at the same time. Regarding the reduction of the energy consumption, EAC will proceed with the pilot installation of “smart meters” with the ultimate goal of helping its customers to save energy. Furthermore, we aim to systematically monitor the development of new technologies for producing cleaner, cheaper and more sustainable energy in the future.
SECURITY OF SUPPLY
In Cyprus we maintain high reliability power supply thanks to the systematic and tireless efforts of the EAC staff, who work consistently in order to achieve this goal.
Despite the fact that we have no imminent need to increase capacity in order to meet possible energy deficiencies, we are constantly monitoring our daily dispatch in order to operate only the most economical units available at a given time.
In addition, we made huge investments in technical equipment in order to ensure very high levels of efficiency and reliability of the transmission and distribution network of EAC and to reduce the duration and the management cost of any faults.
To continue keeping prices affordable and reducing carbon dioxide emissions, we will need to use energy much more efficiently in all our homes and businesses, that is we need help and involvement from our stakeholders.
Domestic Special Tariff for Specific Categories of Vulnerable Customers
EAC has always supported vulnerable customers. We have introduced a special tariff for our most vulnerable customers in close cooperation with CERA.
We also help our customers use less energy through our public campaigns aiming at educating our customers towards energy consciousness.
We want to ensure that all our customers receive the best possible service to meet their needs.
If you are part of the vulnerable customers list then you are eligible for financial incentives through your participation in the Plan for the installation of a domestic PV system up to 3KW with the method of net-metering scheme, as this is amended or replaced in accordance with the relevant Decisions of the Minister Council.
In addition, if you are part of specific categories of vulnerable customers then you could be included in the Special Tariff for large and disadvantaged families with code 08, as specified in the relevant Decision of the MECIT for Public Service Obligations, in accordance with the article 89 and 90(5) of the Law, as currently amended or replaced.