THE authorities have assured that the island has enough electricity-generating capacity even if there is an extended summer heatwave combined with problems at the Vasiliko power station.

Director of the Cyprus Transmission System Operator, Andreas Theophanous, said that by July, “we hope to have an extra 180 megawatts of capacity provided by two new generators. This means that even if there is a nightmare scenario of Vasiliko shutting down, we will still be OK.”

He added that he hopes entrepreneurs will enter the market in the coming years to provide energy using renewable sources.

The Electricity Authority of Cyprus (EAC) meanwhile has warned that rates are set to increase.

President Harris Thrassou told state television: “Of course we don’t want to raise prices but we have no choice based on costs and European Union regulations. We cannot sell electricity cheaper than what it costs to produce it.”

He speculated that the rate increase “could be six per cent over three years.”

On his part, Commerce Minister Antonis Paschalides said that the previous rate increase “was a long time ago.”

More details are expected to emerge following a weekend meeting between the Ministry and EAC.