Cyta chair hails pivotal step for telecoms firm's evolution

Telecoms provider Cyta on Friday welcomed the decision by the House of Representatives to approve legislation allowing the organisation to enter the energy sector, describing it as a pivotal step in its evolution.

The decision enables Cyta to expand its activities into a new and competitive market, marking a strategic shift in its operations as it adapts to changing economic conditions.

In its announcement, the organisation expressed its “appreciation to MPs from all parties who participated in the process“, highlighting the importance of the parliamentary vote.

“Now all of us here at Cyta can turn the vote of confidence of the House into a tangible benefit for society, with responsibility and hard work,” said Maria Tsiakka, chair of the Cyta board of directors.

Moreover, Cyta stated that it will operate with full respect for the new institutional framework governing its activities and the rules of the market.

The organisation also reaffirmed its “long-standing goal of creating value for Cyprus and its people“, positioning its entry into the energy sector as part of that mission.

The approval followed a majority vote in parliament granting Cyta the ability to expand specifically into renewable energy activities.

An amendment introduced by Disy and adopted during the vote clarified that Cyta will not engage in energy production from conventional fuels.

Amendments proposed by Akel aimed at introducing additional safeguards were rejected, with the party ultimately voting against the legislation.

The move comes as Cyprus seeks to reduce its reliance on fossil fuels and address high electricity costs affecting consumers.

With an 88 per cent energy import dependency rate, Cyprus remains one of the most vulnerable EU nations to geopolitical shocks and price volatility in the Middle East.

Although local fuel prices are currently among the EU’s lowest, recent sharp increases have led to calls for the reinstatement of state subsidies to shield households from rising costs.

According to the bill’s framework, Cyta, which operates with a budget of €597 million for 2026, is expected to leverage its technical expertise in the energy sector.

“In this environment, Cyta will be able to play a crucial role as a supplier of energy from renewables, offering affordable and sustainable solutions to Cypriot consumers,” the bill’s preface stated.

The organisation is also expected to contribute to the modernisation of the energy market by integrating telecommunications technologies with renewable energy systems.

This includes the potential deployment of smart metres and infrastructure linked to 5G, artificial intelligence and the Internet of Things.

Cyta has indicated that its initial focus will prioritise household services, including rooftop solar panel solutions.