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Electricity Authority Challenger Enters Market

Vouros Power Industries said it has plans to build 224 MW power station in Cyprus and end EAC’s monopoly on electricity on the island, according to In Business Magazine.

The company filed an application last week to the Cyprus Energy Regulatory Authority (CERA) and given that the preliminary preparations and planning have been completed over the past years, the station that will burn natural gas or diesel could be operational in two to three years.

The company's CEO Anthony Vouros told Sigma TV that the proposed construction site is Vassiliko and that the cost is expected to reach 250m. Euros.

The state electricity company of Israel will participate in the venture, said Vouros.

"Perhaps the most important advantage of the construction of the station," he added "is that the Cypriot consumer will have for the first time the option to chose who will be his electricity supplier, which will create conditions for healthy competition and provide lower electricity prices."

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