The Minister of Energy, Commerce, Industry and Tourism, Giorgos Lakkotripis, participated in the Informal Council of Energy Ministers and the High Level Meeting on the Future of the Electricity Market, held in Tallinn, Estonia, on 19 and 20 September. The main subject of the discussion was the redesign of the EU electricity market while a Declaration on the digitization of the energy sector was adopted.
In his speech, the minister agreed with the need to redesign the EU electricity market in a way that would support the EU’s transition to a low-carbon sustainable economy. At the same time, he highlighted the importance of protecting vulnerable consumers and adopting specially formulated measures in the case of Cyprus, where the electricity market is small and energy-isolated. Cyprus, Mr Lakkotropis said, is more vulnerable in the event of a crisis due to the absence of electricity interconnections, calling for appropriate measures to be taken in solidarity by the other Member States.
The Declaration on the digitization of the energy sector, which was signed by all EU Member States, the European Commission and industry representatives, highlights the importance of developing tools and strategies that ultimately help to strengthen the active role of consumers in the electricity market.
On the sidelines of the Informal Council, the Minister held a private meeting with European Commission Vice-President Maros Šefčovič and the Portuguese Deputy Energy Minister, Jorge Seguro. Mr Lakkotropis briefed the Vice-President on the latest energy developments in the Eastern Mediterranean and discussed gas infrastructure issues for supplying the EU market. At the meeting with the Portuguese Deputy Minister of Energy, the Minister highlighted the issue of Cyprus’s lack of interconnections with European networks electricity and gas, and it was agreed to jointly promote proposals to the European Commission that would tackle this problem./IBNA