EU to assess Cyprus’ opening up of power generation sector

NICOSIA, Cyprus (AP) — Cyprus’ move to open up its power generation market and boost the share of renewable sources in its energy mix will face its first big test next year when the European Union’s executive arm assesses the project. Cypriot lawmakers in October approved a law that aimed to decouple the power grid operator from the state-run Electricity Authority of Cyprus and enable private power generation companies to supply homes and businesses. The decoupling was among reforms Cyprus pledged under its national Recovery and Resilience Plan that European leaders approved in July. The European Commission told the Associated Press in an email Friday that it will make its formal assessment when the Cypriot government seeks EU funding next year.