Cyprus’s energy monopoly, the partially state-owned Electricity Authority of Cyprus, will need to face competition for the nation to adapt to a changing global climate, the nation’s government said.
Cyprus Energy Minister Giorgos Lakkotrypis made a speech Monday at an EAC presentation of its 2012 operations to announce new efforts to open the nation up to competition in the electricity industry as early as next year.
In his speech, the minister described EAC’s need to increase its competitiveness as “urgent.”
”The authority cannot continue operating under the status of a monopoly,” he said.
Earlier this year, government officials established an energy watchdog to review the market and identify barriers to competition. While the market is open for new entrants, EAC claims it has maintained its monopoly status due to the artificially low rates of return.
Full content: Cyprus Mail
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI