Philenews

EU Grids Package: Opportunities for Cyprus

Published January 11, 2026, 05:03
EU Grids Package: Opportunities for Cyprus

The EU's new European Grids Package is a significant set of reforms for the planning, licensing, funding, and operation of electricity networks in Europe. For Cyprus, this package presents particular opportunities, as it can help to end the country's energy isolation, reduce electricity costs, and avoid the waste of renewable energy sources. The EU is taking a more active role in network planning, establishing a unified, long-term development scenario up to 2040-2050. The Greece-Cyprus-Israel electricity interconnector (Great Sea Interconnector) is recognized as a project of critical importance. The Grids Package introduces new principles for licensing and connecting renewable energy projects, such as the “first-ready first-served” logic and the acceleration of procedures. It also proposes greater transparency and a fairer distribution of costs and benefits in cross-border projects, as well as better use of available funding instruments.