Commission Decision of 25 September 2006 granting the Republic of Cyprus a derogation from certain provisions of Directive 2003/54/EC of the European Parliament and of the Council (notified under document number C(2006) 4177) (Only the Greek text is authentic) (2006/653/EC)

Article 2 U.K.

The derogation may be withdrawn by the Commission if substantial changes occur in the electricity sector of the Republic of Cyprus.

To that end, Cyprus shall monitor the evolution of the electricity sector and shall report to the Commission any substantial changes therein, in particular information on new generating licenses, new entrants in the market, price movements and new infrastructure plans that may necessitate a review of the derogation.

In addition, the Republic of Cyprus shall submit a general report to the Commission every two years, starting no later than 31 December 2007. The reports shall set out tarification and pricing policy together with measures taken to protect customers’ interests in the light of the derogation.