Financial and Statistical Information
Cyprus TSO Budget
According to the Provisions of the relevant Law, the TSO Budget is prepared in detail to include capital and functional expenses. The budget of TSO is submitted by the Electricity Authority of Cyprus (simultaneously with its own Budget) to the Ministry of Commerce, Industry and Tourism and the House of Representatives for approval.
For the year 2004, the budget of TSO was incorporated as part of the budget of EAC and therefore separate financial reports for the TSO were not prepared. As a result, comparative information in the audited financial report for the year 2005 does not exist.
Since the Electricity Market has not yet operated as expected, the relevant statement accounts are presented inactive.