Electricity Storage Emerges As A Key Lever To Cut Costs And Unlock More Renewable Energy In Cyprus

Electricity storage could play a key role in reducing power costs and improving the use of renewable energy in Cyprus, according to the Electricity Market Association.

In a statement, the association also expressed concern over delays in the issuance of Connection Terms by the Distribution System Operator, warning that bureaucratic procedures are discouraging multimillion-euro investments and ultimately driving up costs for consumers.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Production Curtailments Are Undermining The System

“One of the most significant problems facing Cyprus’ electricity system today is production curtailment,” the association said.

According to the group, curtailments at large photovoltaic parks reached as high as 66% in April. It added that electricity lost from residential solar systems between January 1 and May 31 could have covered the annual consumption of around 7,500 households.

Curtailments occur when solar generation exceeds electricity demand or the grid’s capacity to absorb additional power, resulting in clean, low-cost energy being wasted.

Why Storage Matters For Consumers

Battery storage allows households and businesses to retain and use a larger share of the electricity they generate, reducing reliance on the grid and improving the return on their solar investment.

Beyond strengthening the electricity system, the association said, wider deployment of storage could also lower energy bills for consumers while helping the grid manage intermittent renewable generation more efficiently.

Regulatory Delays Are Slowing Investment

Despite growing demand for storage, progress in Cyprus remains slow because of lengthy administrative procedures, the association said. It argued that delays in issuing Connection Terms by the Distribution System Operator, which operates under the Cyprus Electricity Authority, raise concerns about the transparency and efficiency of the process.

According to the association, those delays discourage multimillion-euro investments, limit the use of lower-cost renewable electricity and preserve market distortions.

“Ultimately, they pass higher costs on to consumers,” the statement concluded.

The Future Forbes Realty Global Properties

Retail’s AI Push Faces A Cybersecurity And Regulatory Reality Check

by THEFUTURE.TEAM

October 19, 2026

Artificial intelligence is becoming a strategic priority for retailers, with 80% of retail leaders planning to increase investment in the technology, according to EY’s latest CEO Outlook Survey. However, growing concerns over cybersecurity, customer privacy and regulation could complicate adoption across an industry already facing inflation, geopolitical uncertainty and changing consumer expectations.

Confidence In AI Comes With Risks

The survey found that 80% of retail leaders are confident in their ability to expand the responsible use of AI and customer data. Retailers are increasingly applying the technology to demand forecasting, inventory management, customer service and personalised marketing, seeking to improve efficiency and respond more quickly to market changes.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Yet adoption brings new vulnerabilities. EY found that 24% of retail leaders identified cybersecurity and data privacy as a leading business risk for the year ahead. Retailers manage sensitive customer information, payment systems and complex supply chains, making effective security and governance essential as AI becomes more deeply embedded in their operations.

The World Economic Forum’s Global Cybersecurity Outlook 2026 highlights the wider challenge: 87% of organisations reported rising cyber risks linked to AI vulnerabilities, while 94% expected malicious AI to have a significant impact on cybersecurity in 2026.

Regulation Will Shape AI Adoption

Regulatory frameworks are also influencing how quickly retailers can expand their use of AI. The European Union’s AI Act, China’s state-led governance model and measures introduced by individual US states are shaping the rules around the technology.

For retailers, compliance is becoming a strategic consideration, particularly for customer-facing applications that use personal data to personalise offers, automate interactions or analyse consumer behaviour. Regulatory missteps could carry significant costs in a sector where customer trust is critical.

EY Outlines Four Possible Futures

EY recommends that retailers plan for multiple outcomes rather than assume the current investment boom will continue uninterrupted. Its analysis draws on a four-scenario framework developed by Jim Dator of the University of Hawaii.

One scenario envisages constrained AI adoption as economic pressures, regulation, cyberattacks, legacy systems and poor data quality limit progress. Retailers in this environment may prioritise lower-risk back-office applications, such as finance, procurement, inventory and logistics, while customer-facing tools face resistance.

A second scenario anticipates continued growth, with sustained investment and widespread adoption. A third envisages deeper economic and social transformation as technology reshapes business operations. The fourth considers systemic breakdown, in which a small number of technology platforms control access to AI models and charge premium prices, potentially making advanced capabilities less accessible even to large retailers.

Governance Will Determine Competitive Advantage

EY’s findings suggest that investment alone will not determine which retailers benefit most from AI. Companies will also need robust cybersecurity, effective governance and strategies that can adapt to different economic, technological and regulatory conditions.

For a sector operating on tight margins, the challenge is to turn AI investment into lasting business value while managing the risks that come with greater dependence on the technology.

Breaking news