Cyprus-Greece cable delayed. New deadline is 2031.

The Cyprus-Greece cable is scheduled for completion on January 1, 2031, a year later than previously planned. This updated schedule was presented to the parliamentary energy committee on October 20. Cypriot regulator CERA also warns that the current cost estimate for the Great Sea Interconnector, around €1.9 billion, may prove insufficient.

Cable production is progressing, but some seabed surveys are still missing. Their results could impact the route and the project's price. For residents, the most important question remains: when will the connection be operational and what will its real impact on electricity bills be?

Cyprus-Greece cable. Why the postponement?

The Great Sea Interconnector is intended to connect the Cypriot power system with Greece via Crete. The project is part of a broader project that also includes a connection with Israel.

During the committee meeting, a CERA representative announced that the expected completion date had been extended from January 1, 2030 to January 1, 2031.

According to Philenews, the regulator received the information in a letter from the cable manufacturer, Nexans, sent via the entity implementing the investment.

The new date is a current forecast. It does not guarantee that energy transmission will begin on that day.

Approximately 510 kilometers of cable are produced

Philenews reported on October 21 that factory production of approximately 510 kilometers of cable intended to connect Cyprus with Crete had been completed. The planned length of the route is approximately 900 kilometers.

This is a production milestone, but it shouldn't be equated to completing more than half of the entire project. The cable still needs to be installed, and the connection also requires onshore infrastructure, testing, and operational preparation.

The length of the sections produced does not determine the final route. This remains dependent on the results of marine surveys.

The seabed research is still not completed

According to information presented to parliamentarians, approximately 60% of the required research has been completed. The remaining 40% is expected to require approximately six months of work.

However, this does not mean that the research will definitely be completed six months after the commission meeting. The feasibility of conducting the research and the actual timeline are also important.

Understanding seabed conditions is crucial for further technical decisions. The need to change the route could impact both the scope of work and the cost of the connection.

The cost of the merger may exceed 1.9 billion euros

CERA is currently unable to determine the final value of the investment. The regulator points out that experience from similar projects casts doubt on the adequacy of the current budget.

The project received an EU grant of €657 million. The current mechanism for sharing the remaining investment costs is based on a 63% share for Cyprus and 37% for Greece.

This does not mean that any cost increases will automatically be covered by additional European funds. Increasing funding would require a formal application and a separate decision.

Will the cable reduce electricity bills in Cyprus?

The connection is intended to enable energy exchange between systems. However, the ultimate impact on consumers will depend on the prices of available energy and the costs of building, financing, and operating the infrastructure.

Based on the data presented, it's impossible to reliably calculate how much a specific household's bill will change. Simply installing cable doesn't predetermine a single scale of savings for everyone.

Updating the schedule means continuing to wait for the investment, with the final bill remaining open. Only more complete technical and financial data will allow for assessing the benefits for residents.