Crucial week for power linkup

Bringing an end to the summer impasse, the Cypriot government is expected to approve Monday's agreement of all parties involved in the planned power interconnection linking Greece with Cyprus at a cabinet meeting on Wednesday.

Monday's teleconference involving the governments of Greece and Cyprus, the regulatory authorities of the two countries, the implementing authority, Greece's grid manager ADMIE, and the General Directorate of Energy of the European Union, broke the deadlock and will likely to lead to a solution.

Nicosia has pledged that on Wednesday it will confirm that it will finance part of the costs of the construction period of the project with the amount of 25 million euros per year and a total of €125 million over five years, to ease the burden on consumers.

This amount corresponds to part of ADMIE's costs of the construction period, while the rest...