Annita: govt must abandon ‘policy of ambivalence’ on interconnector

House president Annita Demetriou on Wednesday called on the government to abandon its current policy of “ambivalence, doublespeak, and inertia” over the Great Sea Interconnector, stressing that the project is of paramount importance. “The entry of strong international investment interests, the interest in the interconnection between Cyprus and Israel, and the more active involvement of Greece, France, and the United States highlight the broader importance and prospects of the project,” she said. These comments come after French asset management firm Meridiam took a controlling stake in the interconnector project last month. She said recent developments have “confirmed that the Great Sea Interconnector (GSI) is a piece of infrastructure that will not only secure our country’s energy supply, but which can also substantially upgrade Cyprus’ position on the energy and geopolitical map of the region”. “Precisely for this reason, the policy of the Cypriot government must definitively and finally move from the level of ambivalence, doublespeak, and inertia, to the level of strategic commitment,” she said. She stressed that each country’s energy policy “constitutes a leading pillar of both its development prospects and its national security”, and said that in Cyprus’ case, “it is clear that energy consumption will increase dramatically in the coming years”. She said that when Disy was last in government, under former president Nicos Anastasiades between 2013 and 2023, “a comprehensive energy plan was designed”. ‘Concern and disappointment’ with the current government This plan, she said, included increasing the contribution of renewable energy sources, the arrival of natural gas, the creation of storage infrastructure and the promotion of the electricity interconnection project. “I must say that it was with satisfaction that we heard in 2023 that the current government would adopt this overall plan, with official statements in parliament and elsewhere. This is exactly how serious states should operate, in a way which ensures stability and continuity in the promotion of strategically important projects and infrastructure,” she said However, she added, that three and a half years later that satisfaction had turned into “concern and disappointment”. “Instead of decisively continuing to promote the plan, the government appears hesitant to make decisions. Instead of methodically implementing projects which had already been started, they have been put on hold,” she said. The result of this, she said, was that Cypriots were paying for very expensive electricity while at the same time were facing interruptions in the supply of electricity every time consumption increases, as was the case a few weeks ago. She said that energy from renewable sources is being “wasted” because “our network remains isolated and without storage infrastructure”, and that at the same time, “the prospect of upgrading our country geopolitically remains untapped”. Then, she said that while the Cypriot government appears misguided on this front, Greece appears to comprehend the project’s significance. “It is fortunate, as far as the interconnector is concerned, that the Greek government seems to understand the importance of the situation,” she said. “The undertaking of the implementation of the project by a large French company is of exceptional importance.” ‘We call on the Cypriot government to definitively support the project’ She said that in light of this, “we therefore call on the Cypriot government to definitively and finally support the project, which will take Cyprus out of energy isolation and strengthen our energy security”. She said Disy had no objection to carrying out additional studies as documentation and transparency were essential, but the studies should be no pretext to keep the project “on the shelf”. “We know, contrary to certain impressions which are being cultivated, that the European Union has already financed and supervised the preparation of technical, economic, and environmental studies costing tens of millions of euros,” she said, adding that it was on the basis of these studies that the disbursement of a European grant of €658 million was approved and began. She then made reference to a “cost-sharing agreement” previously reached with the Greek government, “based on which Greek consumers will cover 37 per cent of the remaining cost, after deducting the income from the use of the cable”. This agreement, she said, has ensured “the sustainability of the project … which will be strictly regulated, and have a predetermined return”. To this end, she said that the amount the Cypriot consumer would be required to pay would be paid “gradually, over a 30-year period”, and that this amount will “correspond to a fraction of the annual cost of the electricity authority, for an investment which will provide security, sufficiency, and a reduction in electricity prices”. Moving onto the matter of geopolitics, she said that “for us, the most serious risk is Turkey, and this is where the coordinated actions of Athens and Nicosia should be focused”. She said that these actions “should be focused” and “take advantage of the positive interest of the European Union, France, the United States, and Israel”. “A prerequisite, of course, is a clear and unified line at home. That is why I emphasise that Disy does not seek either confrontation with the government, or to be neutered opposition,” she said. Instead, she said, “our intention and desire is to offer decisive support” to the project. She said that to this end, she intends to hold “high-level contacts” in both Athens and Brussels in the coming weeks and months.