Tensions Over Power Cable Threaten Greece–Cyprus Relations

Dispute betwixt IPTO and Cyprus’ regulator implicit task backing prompts exigency gathering astatine Maximos Mansion – Strategic vigor task astatine hazard amid ineligible and governmental friction

A Strategic Energy Project Caught successful a Storm

The ambitious Greece–Cyprus energy interconnection project, known arsenic the Great Sea Interconnector (GSI), has sparked a superior rift betwixt Athens and Nicosia. At the bosom of the quality lies a clash between IPTO (Independent Power Transmission Operator) and Cyprus’ vigor regulator RAEK over the financing and outgo betterment of the multi-billion euro task — a clash present threatening to derail a task of large geopolitical and vigor significance.

Emergency Meeting Called by Mitsotakis Amid Growing Tensions

Greek Prime Minister Kyriakos Mitsotakis has called an exigency gathering at Maximos Mansion on Sunday astatine 17:00, pursuing crisp statements and media reports successful Cyprus alleging that IPTO plans ineligible enactment implicit outgo issues. The gathering includes the enactment of the Ministry of Environment and Energy, arsenic good arsenic IPTO’s apical executives.

Tensions escalated aft a study from philenews.com claimed that IPTO submitted a “bombshell letter” to Cyprus’ RAEK, demanding much higher compensation than the €25 cardinal yearly outgo agreed for 2025–2029. The study suggests IPTO seeks contiguous designation of €251 million in incurred costs.

IPTO has categorically denied these claims, stating it lone seeks what was agreed: the €25 cardinal outgo for 2025, and nary more, arsenic portion of a broader €1.9 cardinal investment to beryllium recovered implicit a 35-year depreciation period.

Cypriot President Launches Harsh Attack connected IPTO

President of the Republic of Cyprus, Nikos Christodoulides, responded sharply to the report, stressing that a framework agreement exists betwixt the Greek and Cypriot governments and that immoderate deviation by IPTO is “unacceptable and not reflective of authoritative policy.”

In a pointed statement, Christodoulides warned:“If the caput of IPTO thinks the Cypriot authorities tin beryllium blackmailed done specified letters oregon sponsored media placements, helium intelligibly doesn’t cognize who he’s dealing with. The Cypriot authorities does not instrumentality orders from immoderate IPTO executive.”

He further clarified that the Greek authorities is not responsible for IPTO’s correspondence and reiterated the shared committedness to the project, referencing their caller associated connection from New York successful September, pursuing a bilateral gathering with Prime Minister Mitsotakis.

The Core Dispute: When and How Costs Are Paid

The struggle centers connected the timing and operation of outgo recovery. Under the July 2024 framework, Cyprus committed to pay €25 cardinal annually until 2029, portion the remainder of the costs would beryllium recovered aft the cablegram becomes operational, done energy tariffs shared successful a 63–37% ratio between Cyprus and Greece.

However, reports suggest IPTO has filed an objection to RAEK’s July decision, demanding afloat designation of €251 cardinal successful past expenditures, arguing that the magnitude approved — €82 million, with €25 cardinal recoverable successful 2025 — is insufficient and inconsistent with Greek regulator RAAEY’s assessments.

IPTO maintains that its objection is wrong its ineligible rights and that its lone purpose is to ensure regulatory consistency and transparent outgo recovery across some nationalist jurisdictions.

Turkey’s Role and the Delay successful Seabed Surveys

Beyond the regulatory dispute, geopolitics looms large. Cypriot diplomatic sources constituent to Turkey’s maritime claims in the portion southeast of Crete — a cardinal agelong for the cable’s way — arsenic an external hazard factor. Additionally, the Greek authorities has delayed issuing NAVTEX for seabed surveys, holding backmost indispensable method steps for the cable’s installation.

With Norwegian shaper Nexans already progressing with production, clip is of the essence. Delays could not lone jeopardize the timeline but besides summation the fiscal load and geopolitical uncertainty.

Legal Challenge connected the Horizon

Should RAEK cull IPTO’s objection, the Greek relation has the close to appeal to the Cyprus Administrative Court— a determination that could trigger an unprecedented ineligible confrontation between 2 EU subordinate states implicit a flagship European vigor project.

This would people the third time IPTO has taken ineligible enactment against RAEK decisions, further straining intergovernmental coordination. IPTO’s bulk shareholder is the Hellenic Republic, which adds a furniture of governmental sensitivity to the situation.

A European Project connected Fragile Ground

The Great Sea Interconnector is not conscionable a bilateral task — it’s a key portion of the EU’s vigor information and modulation strategy. With Brussels already having committed €657 million, its nonaccomplishment would nonstop shockwaves done European institutions.

But without swift governmental resolution, coordinated regulatory action, and a shared semipermanent vision, the task risks being undermined by interior mistrust, bureaucratic gridlock, and external geopolitical pressure.

The coming weeks volition beryllium critical. What’s astatine involvement is not lone a cable — but a symbol of vigor solidarity and integration between Greece, Cyprus, and Europe.

Source: pagenews.gr

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