Energy minister says cutting electricity costs top priority

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One of the priorities of the new administration is to reduce the cost of electricity, to help industry and the economy reach the potential “they deserve”, said new Energy Minister George Papanastasiou.

Addressing the handover ceremony at the Ministry by the outgoing minister Natasa Pilides, Papanastasiou referred to a transitional period towards green transition, during which there will be use of natural gas “probably from the region.”

“Without cheap energy, you cannot have a solid economy,” said the new energy and commerce minister.

“We will try within the next few months to start implementing this program.

“We have no time to spare…we need to roll up our sleeves and work.”

Papanastasiou said commerce and industry showed “very good results”, but “in the energy sector, we may not have performed as well due to external factors”.

He pledged to bring in expertise “to provide solutions.”

Outgoing Pilides expressed her confidence that the new minister will be able to tackle the challenges with great success.

“We have secured €590 mln in total for the program period 2021-2027 for projects that need to be implemented and grant schemes, thus providing you with the resources you need to make a difference.”