An important cooperation agreement contract between the Electricity Authority of Cyprus and CYTA was signed recently regarding the installlation of a comprehensive smart infrastructure system, called Advanced Metering Infrastructure (ΑΜΙ).
At an event that took place on Wednesday, the 24th of July 2024, in the presence of the Minister of Energy, Commerce and Industry, Mr. Giorgos Papanastasiou, the start of the cooperation between the two Organisations was announced.
The contract provides for the installation of a comprehensive smart infrastructure system comprising smart meters, telecommunications equipment, as well as a central data collection system, and command transmission. Its primary goal is to modernize EAC's electrical grid and enhance the services provided to consumers.
The cost of the project that will be executed in two phases, is approximately €50 milllion. As the Chairman of the EAC Board of Directors, Mr. George Petrou, mentioned in his speech [the project will be executed] “with no direct cost to citizens, as we have secured up to €35 million in funding from the European Union's Recovery and Resilience Facility, supported by the Ministry of Energy, Commerce & Industry. The remaining €10 million will be covered by EAC.
The Minister of Energy, Mr. Papanastasiou, in his own speech underlined that the signing of the contract is a “significant positive step that, 3 years after the relevant tender was announced -following all the known difficulties it faced-, finally paves the way for EAC to go ahead with this exceptionally important aspect of its ten-year program for the development of the electricity transmission and distribution networks".
As the Minister explained, “our common goal for transition to a green and cyclical economy, as well as for the function of a fully liberalized and viable electricity market needs a modern, flexible and competitive EAC. First and foremost, we should be interested in servicing the electricity consumers in the best possible manner, as they should be enjoying upgraded services at the lowest possible cost in this new competitive electricity market.
This project of the comprehensive smart infrastructure system that has been secured today with the signature of the relevant contract is most importantly the key to the success of all the efforts by EAC to upgrade the quality of its services. Furthermore, I consider that the cooperation and partnership of EAC and CYTA guarantee the timely implementation of the milestones that have been set".
Mr. Petrou expressed his satisfaction by mentioning that “We are delighted to announce that, despite prolonged delays due to appeals to the Tenders Review Authority and the Administrative Court, the tender has been awarded to CYTA".
The Chairman of EAC added also that in the framework of the contract signed “CYTA will handle the design and supply of the integrated system and its integration with EAC's existing Meter Data Management System (MDMS). Concurrently, EAC staff will be responsible for installing the necessary field equipment, including smart meters and data concentrators".
Ms. Maria Tsiakka, Chairwoman of the CYTA Board of Directors stated that the Organisation continues to evolve guiding the country to development. “In this direction" added Ms. Tsiakka, “we are offering solutions with advanced technologies and applications that answer the needs of the modern consumer". At the same time, she presented the commitment of CYTA to innovation and excellence underlining that “it becomes reality every day through the technological solutions that upgrade communication and contribute to a better quality of life for all of us", The Chairwoman of the CYTA Board of Directors mentioned succinclty that it “intends to move forward to other, equally important cooperations that will further enhance the competitiveness of our country in all sectors. Today's agreement with EAC that has entrusted us with such an important project for its customers and the country signals a new beginning for the digital future".
In his address at the event, the General Manager of EAC, Mr. Adonis I. Yiasemides characterised the smart meters as a revolution small in size but immense in importance, explaining that “[T]heir operational capabilities provide numerous benefits to consumers, including detailed insights into their electric energy consumption and faster detection of several occurences and possible damages".
For at least three years, a total of 50 EAC crews will work daily and exclusively on replacing existing meters with smart ones.
According to the timetable set for July of 2026, EAC must acquire 400,000 meters and install 250,000. The first phase of the project, involving the installation of all 400,000 smart meters, is expected to be completed by mid-2027. Following this, the second phase, which involves installing approximately 200,000 additional smart meters to cover all consumers in areas controlled by the Republic of Cyprus, is planned.
EAC is entering an era of great and complex challenges but is investing in its future and intelligent systems, providing the platform for real-time smart system management. The management of information and the convergence of energy with IT and telecommunications will enable the smart management of the entire electrical system. Customers will actively participate in the system, becoming active players by taking advantage of dynamic tariffs designed for smart system management needs.
This transformation project broadens Cyprus's energy horizon and creates new conditions for progress and prosperity for all.
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