Cyprus sets 1 October start for competitive electricity market

The Cyprus Energy Regulatory Authority (CERA) announced on 29 May 2025 that it has approved the proposal of the Transmission System Operator of Cyprus (TSOC) to start commercial operation of the Competitive Electricity Market on 15 September 2025, with 1 October 2025 as the first trading day, Fast Forward reports.

Why September

According to CERA, its Decision No. 185/2025 took several factors into account, including the need to avoid launching a new market structure during the peak demand period of the year.

What market participants must do

All participants currently operating under the Transitional Electricity Market Arrangement, as well as any companies that want to enter the new market, must complete the required steps under the Electricity Market Rules and TSOC procedures. CERA said the readiness of all stakeholders is crucial, as the new model is a fundamental shift in how the country's electricity system operates.

How the new market works

The new model resembles a stock exchange: suppliers buy electricity every 30 minutes.