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Great Sea Interconnector Project Faces Heightened Cost And Viability Scrutiny

by THEFUTURE.TEAM

December 5, 2025

In a recent House Finance Committee session, critical issues surrounding the cost and long-term viability of the Great Sea Interconnector (GSI) were brought into sharp focus. The project has become a focal point amid ongoing concerns over budgetary deficits at the Cyprus Energy Regulatory Authority (Cera), which continues to operate at a deficit for the sixth consecutive year.

Project Cost Concerns

During the session, Cera Vice-Chairman Alkis Philippou acknowledged that EU-backed projects of common interest typically receive state subsidies due to their initial lack of financial viability. However, Philippou warned that escalating costs could ultimately undermine the sustainability of such essential infrastructure initiatives. Committee Chairman Polyvios Lemonaris highlighted unresolved issues, notably the final cost of substations, and pointed out that remaining technical challenges—such as incomplete seabed surveys and uncertainties in the cable-laying process—might necessitate additional expenditures and infrastructure enhancements.

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Budgetary Implications and Fiscal Oversight

In addressing the myriad financial challenges, lawmakers expressed a demand for comprehensive clarification, emphasizing both the impact on public finances and the importance for citizens. Lemonaris provided further insight into Cera’s 2026 budget, which projects a significant deficit of €2.8 million against revenues of €3.1 million and expenditures of €5.9 million, with nearly half of the expenditure allocated to staff salaries. Despite these short-term imbalances, current reserves are expected to cushion the deficit and leave €2.2 million in the accounts by year’s end. Additionally, annual fees currently represent 87% of revenue while salaries consume 48% of expenditures. A revised fee structure has already been proposed to steer the agency toward a balanced budget.

Market Dynamics And Project Timelines

Lemonaris also touched upon broader market developments, noting that the electricity market officially opened to competition on October 1. However, with only two producers, 11 suppliers, and a handful of renewable energy stakeholders currently active in the sector, wholesale pricing remains in line with transitional arrangements. He expressed optimism that the natural forces of competition would help stabilize—and eventually drive down—prices once the market matures.

Looking Ahead

The critical nature of completing interconnection projects on schedule was underscored by committee members, who warned that delays could leave Cyprus with constrained energy capacities post-2029. While Greece’s independent transmission system operator, Admie, has yet to signal any changes to the December 31, 2029, completion deadline, ongoing technical reviews and pending reports from the natural gas administrator are set to outline the necessary infrastructure improvements. Lawmakers continue to monitor these developments closely, recognizing the far-reaching implications for both national energy security and fiscal stability.

The Future Forbes Realty Global Properties

by News Editor

August 24, 2026

Courts Are Still Applying Old Copyright Rules To AI

AI companies train models on enormous amounts of published material, including books, articles and academic research. Whether using that content without authors’ permission violates copyright law remains unresolved.

Much of the debate centres on fair use, which allows copyrighted material to be used without permission in certain circumstances. Courts consider factors such as the purpose of the use, how much material was involved and its impact on the original market.

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Anthropic Case Sets An Important Precedent

A major case involving Anthropic and a group of authors provided one of the clearest rulings so far. Judge William Alsup found that using copyrighted books to train AI models was lawful, comparing the process to people reading and studying literature before creating something new.

Anthropic was nevertheless ordered to pay $1.5 billion in a settlement. The penalty concerned books the company had obtained from illegal online libraries rather than the AI training itself.

For AI companies, that distinction could prove significant because it separates studying copyrighted material from directly copying it.

Competition Could Be The Key Issue

A case involving Thomson Reuters and Ross Intelligence offers a different perspective. A court ruled that Ross could not claim fair use after using Reuters’ copyrighted material to develop a competing AI-powered legal research platform.

The decision suggests courts may be less willing to consider AI training fair use when copyrighted content is used to build a product that directly competes with the original.

For authors, an unresolved question is whether AI-generated content should be considered competition for the works used to train these models.

The Law Has Yet To Catch Up

US copyright law predates generative AI by decades, leaving courts to apply old principles to new technology. Questions also remain over copyright protection for AI-generated works. In Thaler v. Perlmutter, a court ruled that material created entirely by AI cannot receive copyright protection.

Major AI companies remain involved in copyright litigation, and different courts could reach different conclusions. For now, there is no universal rule: the legality of AI training will depend on the circumstances of each case and how courts ultimately interpret copyright and fair use.