Cyprus Faces Energy Strain As Cold Wave Hits: Authorities Call For Power Conservation

by THEFUTURE.TEAM

February 20, 2025

A cold wave sweeping across Cyprus threatens to test the island’s energy infrastructure in the coming days. Chará Kousiappa, spokesperson for the Cyprus Transmission System Operator (TSOC), warned that the country could face serious challenges as energy demand surges.

“It will be a tough situation,” Kousiappa told the Cyprus News Agency. “We’re already seeing very high demand, and we’re continuously assessing the situation. We hope things will go smoothly, but we’re ready to act if necessary.”

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The cold front is expected to hit shortly, with the most critical period for electricity demand falling between 6:00 PM and 9:00 PM—when renewable energy production drops off. During these peak hours, the power supply will be under significant pressure, as several key power units are offline due to scheduled maintenance or technical issues.

TSOC is closely monitoring the situation, and Kousiappa hopes that some of the power units currently under repair at the Dhekelia and Vasilikos stations can be brought back online before temperatures fall. She also emphasized the importance of energy conservation, urging the public to reduce electricity usage during peak hours and shift high-energy tasks, like laundry and dishwashing, to the day when solar power is at its peak.

As Cyprus braces for a difficult few days, authorities are calling on citizens to play their part in ensuring the stability of the island’s power grid.

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Cyprus State Revenue Reaches €3.8 Billion By May 2026

by THEFUTURE.TEAM

June 23, 2026

Revenue Performance Overview

State budget revenue reached 35% of the annual target by the end of May 2026, while expenditure stood at 32%, according to the Treasury’s latest report.

Total revenue amounted to €3.8 billion, compared with €3.59 billion during the same period last year. The increase was largely supported by stronger tax collections across several categories.

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Tax Revenues And Expense Allocations

Both indirect and direct tax revenues recorded annual growth during the first five months of the year. Indirect tax collections increased by €120 million to €1.42 billion, driven primarily by value-added tax receipts. Direct tax revenue also moved higher, rising by €110 million to €1.29 billion, an annual increase of 8%.

While revenue continued to grow, spending patterns also shifted during the period. Expenditure on transfers, subsidies, and social benefits increased by €70 million, €40 million, and €40 million respectively.

At the same time, spending on salaries, pensions, and other remuneration edged down by €10 million to €1.35 billion.

Capital Investment And Development Indicators

Alongside current expenditure, capital spending continued to account for a significant share of government activity.

Capital expenditure reached €111.3 million, with funding directed towards road infrastructure, construction projects, and government facilities. These investments contributed to a development spending implementation rate of 19%, above the ten-year average of 17% recorded during the same period.

Fiscal Financing And Strategic Projections

Beyond revenue and expenditure trends, the report also highlighted changes in financing activity. Differences compared with 2025 were mainly linked to the timing of European Medium Term Note issuances. Repayment inflows totaled €1.06 billion, while repayments and new issuances combined reached €2.06 billion.

Funding also continued to flow into development programmes. Spending on co-funded projects and other planned disbursements amounted to €83.9 million, supporting areas such as industrial technology, education, and urban development.

Additional support was directed to academic institutions, including the University of Cyprus and the Cyprus University of Technology, with total allocations reaching €69.7 million. Separate funding for education, cultural initiatives, and housing support amounted to €24.5 million.

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