Future of undersea electricity cable linking Greece, Cyprus and Israel will be decided next month

Associated Press

NICOSIA, Cyprus (AP) — Cyprus’ energy minister says the future of an electricity cable linking the power grids of Greece, Cyprus and Israel will be settled next month. That’s when the Cypriot energy regulator is due to rule on whether to accept the terms of the project’s Greek operator, which wants Cypriot consumers to pick up the tab for the cable’s four-year construction costs. Officials have said the 2-billion-dollar cable, known as the Great Sea Interconnector, would end the energy isolation of both the east Mediterranean island nation and Israel, while promising consumers cheaper energy. The European Union is partly financing the project with 713 million dollars.