We received today with great satisfaction and a feeling of justification the decision of the Administrative Court of Cyprus in the recourse of our company Easy Power (Cyprus) Ltd- against CERA for their decisions to freeze our applications for 10 MW PV stations that would operate under the Free Competitive Electric Energy Market of Cyprus

The decision is a slap in the face of CERA for the way it regulated the energy market and is clear in the obligations that did not follow according to the regulations and legislation of Republic of Cyprus.

Emphasis in the commitment that has not been followed by CERA gives the paragraph of the court decision that notes the following:

«… in an unauthorized manner decided to freeze the processing of the applications, this way they were circumventing in their obligation to exercise their responsibility to take a decision…»

Our company as of May of 2012, that submitted the applications to CERA until today operated within the frame of the legislation and the regulations of Cyprus and EU. Aiming to invest tenths of millions of Euro in the Free Competitive Electricity Energy Market with a view to offer development, new jobs and large electricity price reductions in households and businesses.

Within this large period of more than 4 years we tried numerous times- within the framework of a dialogue and of concessive solutions- to find a common ground for discussions with CERA , by offering solutions for the liberalization of the Energy Sector and the support of the Cypriot economy with new investments. Unfortunately on the opposite we had a Regulatory Authority that din not listen, did not see and most of all did not understand.

We sincerely hope that today’s court decision will awake CERA in order to understand its role and the actions will have to take serving the true interests of the Cypriot Consumers.

We wait for the official response of CERA