Τhe need to amend the regulatory framework in order for the Greece-Cyprus-Israel electrical interconnection project to proceed smoothly, was underlined by the chairman and CEO of the Independent Power Transmission Operator (IPTO), Manos Manousakis, speaking at the 9th Energy Transition Symposium organized by the Hellenic Association for Energy Economics.

“We want the regulatory framework to be completed on time. A decision is already under consultation that will have to undergo some changes, in order to make the project sustainable and to continue to repay the cable manufacturer,” he emphasized.

Manousakis pointed out that the IPTO undertook the construction of the interconnection based on the existence of a regulatory framework that will not create a risk of financial loss for the operator, noting that the delay in its completion caused uncertainty for the project.

The results of the cost-benefit analysis, which the Republic of Cyprus will use to determine whether or not to participate in the project, will be "very positive for the project," he continued. The IPTO management will present the study to Cyprus at the beginning of June.