The Electricity Authority of Cyprus (EAC) made more profit last year. The profit was €37.3 million. This was a little more than the year before.
The company says it saved €45 million. This is because it used fewer fossil fuels. Fossil fuels cause pollution, and companies must pay for this.
The EAC Chairman, George Petrou, said electricity could be cheaper in 2025. The company has a plan with four important goals: fight climate change, keep energy safe, make power affordable, and help customers better. They are spending a lot of money on new technology and better power lines.
Cyprus is using more solar power. Two new solar parks are open. They make very cheap electricity. The government also plans a big battery system for 2025. This will store renewable energy.
But there is a problem. Even with more profit, electricity prices may go up. The company needs money for new systems. Also, many people in Cyprus cannot pay their energy bills. This number is higher than in most of Europe.
So, the company is changing to cleaner energy, but people are worried about the cost.