The Cyprus Energy Regulatory Authority (CERA) is the national Independent Energy Regulatory Authority of the Republic of Cyprus, which is entrusted with the regulatory control of the proper functioning of the internal electricity and gas market in accordance with the provisions of Directives (EU) 2019/944 and (EU) 2009/73/EC. CERA was initially established by the Law on the Regulation of the Electricity Market of 2003 (Law 122(I)2003), which was repealed by the Law on the Regulation of the Electricity Market of 2021 (Law 130(I)/2021). Meanwhile, with the abolition of Law 122(I)/2003, a new Law was passed that provides for the establishment of CERA, the Law on the Establishment and Operation of the Cyprus Energy Regulatory Authority of 2021 (Law 129 (I)/2021).
CERA is legally distinct and functionally independent from any other public or private entity. It makes autonomous decisions independently of any political organization and has an annual revenue and expenditure budget which it implements autonomously.
CERA is governed by the Top Management, which consists of three (3) members, appointed by decision of the Council of Ministers, after consulting the Parliamentary Committee on Energy, Trade, Industry and Tourism. The members of the Top Management and the staff of CERA act independently of any market interest and do not seek or receive direct instructions from any government authority or other public or private entity when carrying out their regulatory tasks.
CERA is accountable for the performance of its duties, responsibilities and powers to the President of the Republic and, for this purpose, submits an annual activity report to the President of the Republic.
The operation of CERA and its decision-making process are regulated by Regulations, which are adopted in accordance with the Law on the Establishment and Operation of the Energy Regulatory Authority of 2021.