The Council of Ministers approved on Tuesday a proposal by the Energy Ministry regarding the electricity interconnection between Cyprus and Crete (Great Sea Interconnector – GSI), the competent Minister George Papanastasiou has announced.
In statements to the media on Tuesday afternoon, the Minister said that the Republic of Cyprus will pay €25 million per year for a period of five years, strictly, to subsidize a possible increase in electricity bills, from 1/1/2025-31/12/2029 so that consumers will not bear the burden of this increase.
