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Electricity Authority of Cyprus

Electricity Authority of Cyprus
Company nameElectricity Authority of Cyprus
(EAC)
Αρχή Ηλεκτρισμού Κύπρου
(ΑΗΚ)
Company typePublic Utility
IndustryElectricity
Founded1952
HeadquartersNicosia, Cyprus
Area servedCyprus
Revenue-663,757,000 (2009)
Operating income-56,036,000 (2009)
Net income-32,600,000(2009)
Employees2,466 (2009)

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The Electricity Authority of Cyprus (EAC) (Greek: Αρχή Ηλεκτρισμού Κύπρου (ΑΗΚ)) currently holds a near monopoly on electricity generation in Cyprus. It operates through three power stations:

* Dhekelia Power Station

* Moni Power Station

* Vasilikos Power Station (Currently Inoperable)

The Headquarters of the Electricity Authority of Cyprus (Greek: Αρχή Ηλεκτρισμού Κύπρου), are located in central Nicosia and lie on the left-hand side of Spyrou Kyprianou Avenue and behind Stasikratous Street.

In 2009, it generated a total of 5,133.3 GWh of electricity. Of that, 8.4 GWh ended up in the area occupied by Turkey and no money could be collected for it.

As a precondition to the accession of Cyprus to the European Union, the local market for electricity generation has been deregulated and as such EAC has sought to diversify into other products.

In 2005, the company was involved in a high profile scandal involving the alleged theft of millions of euros from the employees' pension scheme.




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