Gregoris Savva
The use of liquified natural gas (LNG) for electricity generation is the only option for Cyprus to diversify its energy mix and avoid stricter fines on emissions from power generation, the chairman of the electricity authority (EAC) Andreas Marangos has said.
In an interview with CNA, Marangos said the EAC was ready for the two major challenges, namely the liberalisation of the electricity market and the use of natural gas for electricity generation.
He acknowledged that fluctuations in electricity bills which often cause reaction from the public and businesses but are “a reality” dependent on international oil prices, as 90 per cent of power generation is dependent on imported liquid fuel.
“The way to have lower and more stable prices is the introduction of natural gas in energy generation. A reduction in the electricity bills will depend on the natural gas purchase price but also on the introduction of solar plants and renewable source of energy to the system,” he said, as the Cyprus Natural Gas Company has launched a call for tenders for LNG import terminal.
The use of liquified natural gas (LNG) for electricity generation is the only option for Cyprus to diversify its energy mix and avoid stricter fines on emissions from power generation, the chairman of the electricity authority (EAC) Andreas Marangos has said.
In an interview with CNA, Marangos said the EAC was ready for the two major challenges, namely the liberalisation of the electricity market and the use of natural gas for electricity generation.
He acknowledged that fluctuations in electricity bills which often cause reaction from the public and businesses but are “a reality” dependent on international oil prices, as 90 per cent of power generation is dependent on imported liquid fuel.
“The way to have lower and more stable prices is the introduction of natural gas in energy generation. A reduction in the electricity bills will depend on the natural gas purchase price but also on the introduction of solar plants and renewable source of energy to the system,” he said, as the Cyprus Natural Gas Company has launched a call for tenders for LNG import terminal.
