The risk of derailment of a strategic project significance, the electrical interconnection of Greece – Cyprus and in the future with Israel, again not only because of Turkey’s reactions, which have so far impeded investigations, but mainly because of the conflict of ADMIE with the Cyprus regulatory authority.
Although a week ago, Prime Minister Mr. Mitsotakis and Cyprus President N. Christodoulides met in New York and sent a positive message on the continuation of the GSI project, dismantling any clouds created, now a new crisis is emerging, with the President of the Epistle Democracy. “
This is a crisis that must be resolved immediately in order not to fully undermine the important interconnection work, but also to protect the Athens -Nicosia relations.
The President of Cyprus, called to comment on a “Liberal” report for ADMIE’s letter to RAEK, seeking to overthrow the decision to recover € 82m, with only 25m of recovery for the January – December 20 million and 20m. Before completing the project, he chose particularly high tones: “If the head of ADMIE thinks that such letters or paid entries the Cypriot government is blackmailed, he obviously does not know who he has to do with. The Cypriot government is not blackmailed by any ADMIE leaders and is here to support only the interests of the Cypriot people. This is the clear message to the head of ADMIE. “
Mr Christodoulides reiterated, however, that in his meeting with Mr Mitsotakis there was a complete understanding and agreement on how the project would go ahead, stating that the choices belong to ADMIE and not the Greek government: “It is not the Greek government that decides on the Greek government, of the Greek Prime Minister and me, after our meeting in New York. “
These developments make it necessary to consult on a technocratic level between ADMIE and RAEK, as well as, of course, the immediate launch of the repetition of investigations for the cable of the electric interconnection cable, which Turkey interrupted last July.
The Liberal’s report states:
From overturning to overthrow – and very dangerous paths to Cyprus and Greece relations – the work of electricity is being led, with ADMIE reacting to the delay of the Republic of Cyprus to pay the agreed first tranche of 25 million, asking the RAEK!
The Liberal is informed that the project implementing the project filed a complaint against the RAEK against the Regulatory Authority’s decision, dated July 31, 2024, to approve the recovery of € 82 million, with only 25 million recovery for the January – December 20 million. For expenses he did so far before the project is completed.
With the objection, ADMIE calls for the cancellation of the July decision – for which it had been strongly pressured for a long period – and its replacement by another, which will approve the recovery of all its expenses for the cable, as they will be justified and justified by RAEK with invoices.
In essence, ADMIE attempts to overturn the framework of an agreement signed by the Cyprus and Greece governments in July 2024, which provides that Cyprus will not pay at the construction stage of all the expenses made (something Greece will do), but only 25 million in the year. All other expenses will be gradually paid by electricity consumers in Cyprus (with a ratio of 63-37%), after the operation of the electric interconnection.
The main thing, however, is that the implementing body disputes and attempts to overthrow the regulatory framework approved by RAEK and RAAE in July ’24, after first incorporating governments agreement for 125 million by 2029 from Cyprus.
ADMIE considers – after 14 months – incorrect or even illegal the regulatory practice chosen by RAEK (the two governments, for precision), that is, to pay it only a small percentage of its total costs and the rest after the interconnection.
However, this practice (to repay the projects under regulation) is applied by RAEK (and by regulatory authorities of other EU states) and to all projects carried out by the EAC. The decision to give ADMIE 25 million a year by 2029, before the interconnection operates, is a derogation from the RAEK (following the framework of the two governments) from its usual practice.
Since the Cypriot government recognizes the $ 25 million debt for the expenditure of 2025 but it is reserved to pay it “after the ADMIE commitments are satisfied” (which refers to the conduct of maritime investigations between Crete and Cyprus), July’s decision and to begin paying the Greek organization with much larger amounts, as the cable construction will be proceeding. That is to say, the agreement to pay only 25 million a year, within five years.
However, according to the law, if the ADMIE’s objection is rejected, then the implementing body acquires the right to file an appeal to the Administrative Court of Cyprus, requesting the annulment of the July regulatory decision. And it will probably be the third time that ADMIE has resorted to justice against RAEK decisions, with the risk of the much -publicized work of the electric interconnection to evolve into a huge legal conflict of the two states, since the majority package of its shares.
This may allow ADMIE to display the RAEK and the Republic of Cyprus as the exclusive managers of a project shipwreck, citing the “regulatory gaps” or “bad regulatory practices of RAEK” or both of its regulations, silenced by the biggest problem: The Greek government to issue NAVTEX for the implementation of the necessary sinks so that the cable that Nexans manufactures in Norway manufacture can proceed.
It is estimated by factors that follow the developments that the ADMIE’s letter – attacks the decision of the Agency – the Greek Government – to display Cyprus to prevent the implementation of the project. Loading it with responsibility for the compensation issues that will be raised if the project is actually canceled.
Christodoulides’ statement
Called to comment on new demands of ADMIE in relation to the work of the electrical interconnection, as reported in a liberal report, the President of the Republic said “to mention first that I have been informed by the front page you have mentioned. It should be noted that there is a complete understanding and agreement between the Greek and the Cypriot government for this project. Recently in New York we agreed with the Greek Prime Minister on how we are going very specific and, in fact, a relevant announcement was issued.
From then on, I would like to mention it, if the head of ADMIE thinks that the Cypriot government is blackmailed by such letters or paid listings, obviously does not know who it has to do with. The Cypriot government is not blackmailed by any ADMIE leaders and the Cypriot government is here to support only the interests of the Cypriot people. This is the clear message to the head of ADMIE. ”
A journalist’s observation, however, is the great shareholder of ADMIE, the Greek government, President Christodoulides said that “it is not the Greek government that decides on the letters sent by ADMIE, because with the Greek government there is a framework for how the work is going on, and our work is going on,