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Trade Unions Demand Urgent Revamp Of Dekelia Power Plant Amid Energy Sector Turmoil

by THEFUTURE.TEAM

May 13, 2026

Urgent Call For Infrastructure Upgrades

Trade unions representing employees at the Electricity Authority of Cyprus have called for the immediate advancement of upgrade works at the Dekelia Power Plant amid ongoing debate over electricity costs and energy security in Cyprus. The intervention comes as pressure continues mounting on the country’s energy infrastructure and long-term electricity supply strategy.

Concrete Stance Backed By Government Statements

Representatives from EPOPHA, SIDIKEK, SEPAHK and SYVAHK said recent government statements made on April 30 reinforced AHK’s long-standing position that Dekelia should remain and be upgraded as the country’s second major electricity generation facility. According to the unions, the statements must now translate into concrete decisions by institutions, including the Ministry of Energy, RAEK and DSMK, rather than remain limited to political commitments.

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Overcoming Hurdles And Ensuring Supply Security

AHK Production is already moving forward with plans aimed at replacing older generating units and strengthening the reliability of the electricity system. Union representatives argued that upgrading the facility is critical not only for meeting current demand but also for protecting the long-term resilience and stability of the national grid. The proposed measures are also intended to reduce risks linked to supply disruptions during periods of increased energy demand.

Criticism Of Subsidy Discrepancies And Private Interests

The unions also criticised recent references by government officials regarding possible subsidies for new generating units at Dekelia. According to the organisations, workers are not seeking state grants but instead support a fair distribution of electricity-related costs across all consumers. Concerns were also raised about the growing influence of private sector interests within the energy market, with unions arguing that profitability should not outweigh long-term system stability and public energy security.

Strategic Upgrades And Future Reserves

Aside from immediate infrastructure upgrades, the unions point to the potential benefits of installing a fully integrated combined-cycle unit. Such an installation, financed through extensive market integration and long-term amortization, could lower electricity costs while providing a vital strategic reserve.

Government Inaction And Market Vulnerabilities

Union leaders criticised what they described as slow progress on key infrastructure decisions, arguing that proposals submitted by AHK’s board and technical experts have not received sufficient attention. At the same time, concerns were raised over meetings between government officials and private energy sector groups, which unions claim have delayed or weakened earlier decisions linked to the Dekelia upgrade project.

Looking Ahead: Compensation And Natural Gas Debate

The announcement also touches on proposals for compensating excess energy produced by photovoltaic systems. Despite a fleeting push by the Minister during a sole visit to AHK, these measures have not gained traction. Meanwhile, the debate over the introduction of natural gas in Cyprus continues to raise concerns about the energy strategy, with questions lingering on its integration timeline and pricing mechanisms. Even if natural gas arrives by 2028, union representatives advocate for keeping Units 1, 2, and 3 operational at the Vasiliko facility as a strategic reserve and system safeguard.

A Pivotal Moment For The Energy Sector

As the energy sector teeters on the brink, Trade Unions in AHK hope that the strategic upgrades at Vasiliko will receive a more timely and robust response from the state. They promise to revisit and expand on these issues in upcoming communications, as the stakes continue to mount in an industry critical to national security and economic stability.

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Cyprus Crypto Users Face New Risks As MiCA Rules Take Effect

by News Editor

August 18, 2026

Why Investors Need To Check The Company Behind Their Crypto Platform

Crypto users in Cyprus are being urged to verify exactly which company holds their assets after the EU’s Markets in Crypto-Assets Regulation (MiCA) transition period ended on July 1, 2026.

MiCA rules for crypto-asset service providers have applied since December 2024, but Cyprus allowed companies operating under its previous national framework to continue temporarily. CySEC required providers wishing to remain in the market to apply by February 27, 2026.

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The end of the transition means that appearing on an old national register is no longer enough. Investors must check the specific legal entity providing the service and the activities it is authorised to perform.

Two Regulatory Routes

CySEC maintains separate registers for providers authorised under Article 63 and companies using the Article 60 notification route.

The lists should not simply be treated as a count of licensed crypto exchanges. Providers have different regulatory statuses and may be authorised for different services, including custody, transfers, exchanges or operating trading platforms.

Companies authorised elsewhere in the EU can also serve Cypriot customers through MiCA passporting. Investors should therefore check the wider ESMA register.

Familiar Brands Can Still Be Used In Scams

MiCA authorisation applies to a specific legal entity, not automatically to every website, subsidiary or service using the same brand. Fraudsters can copy a legitimate company’s name, logo and licence number while changing its website or payment details.

The regulatory transition creates another opportunity for scammers. They can imitate legitimate notices about account closures or transfers and claim that customers must urgently move their assets to a new “regulated” platform.

In its July announcement, CySEC warned that customers using unauthorised providers do not receive MiCA protections and advised investors to verify providers through ESMA.

A Wider European Shake-Up

The changes affect the broader European crypto market. VASPnet estimated that more than 1,700 unlicensed crypto companies could face closure, relocation or restructuring after the transition period.

ESMA’s register contained 323 authorised providers at the end of July, while TRM Labs identified 1,343 operating providers in the European Economic Area on July 1, including 281 with MiCA authorisation. The different figures reflect different methodologies, but point to a substantial number of providers operating without the new authorisation.

ESMA instructed unauthorised companies to stop accepting new EU customers, opening accounts and marketing their services, while allowing limited activity needed for an orderly withdrawal.

What Investors Should Check

MiCA introduces common requirements for areas such as governance, disclosures and safeguarding client assets, but it does not make crypto investments risk-free.

For Cyprus users, the key questions are which legal entity provides the service, what it is authorised to do and whether the website or contact details are genuine.

Requests to transfer assets urgently, pay recovery fees, reveal private keys or install remote-access software should be treated as red flags. MiCA may bring greater clarity to the market, but the transition has also created a new opportunity for criminals to exploit a very real regulatory change.