of cyprus eac type public utility industry electricity founded 1952 headquarters nicosia cyprus area served cyprus revenue 776 334 000 2014 operating income 59 652 000 2014 net income 41 976 000 2014 number of employees 2 137 2014 website electricity authority of cyprus the electricity authority of cyprus eac greek was founded in 1952 by the british colonial government . the 28 private electricity companies of the time were nationalized and absorbed into the eac . the authority never received any subsidies from the government as these have always been prohibited by law . its head office is located in strovolos . the eac currently holds a near monopoly on electricity generation in cyprus . it operates through three power stations with a total capacity of 1460mw dhekelia power station 460mw moni power station 140mw 125mw in storage and set for disassembly vasilikos power station 860mw the company also distributes electricity produced by five privately held windfarms orites 82mw santa anna 20mw alexigros 31.5 mw koshi 10.8 mw aeolian 10.8 mw additionally individuals and private companies own more than 50mw of solar panels and almost 10mw of biofuel installations and the eac distributes the electricity these produce too . in 2014 the eac generated a total of 4 013gwh of electricity consuming 916 903 tonnes of fuel costing 446 975 000 . maximum demand in the areas controlled by the republic of cyprus reached 871mw rising to 958mw in 2015 . a total of 5.9 gwh of the produced electricity in 2014 valued 1 001 000 ended up in the area occupied by turkey and no money could be collected for it . the authority served 554 574 customers in 2014 that is 260 per employee up from 254 in 2013 . the electricity sales per employee reached 1.83 gwh up from 1.80 gwh in 2013 . company investments in 2014 on its assets reached 39 983 000 . on 11 july 2011 a total of 98 containers of munitions stored at evangelos florakis naval base adjacent to vasilikos power station exploded causing extensive damage to the station . to cope with the extended loss of its largest power station the authority had to impose rolling blackouts . in 2010 the maximum demand had reached 1 144mw the highest ever and an even higher one was expected in 2011 . as a precondition to the accession of cyprus to the european union the local market for electricity generation has been opened to private companies but so far no private power plants have been built although four licenses have been granted by cyprus energy regulation authority . in the meanwhile the eac diversified into communication and cable television services in cooperation with a private company . the headquarters of the authority in 2005 the company was involved in a high profile scandal involving the alleged theft of millions of cyprus pounds from the employees pension scheme . 1 references edit hazou elias 2007 03 03 . eac unrest over andronikou deal . cyprus mail . archived from the original on september 30 2007 . retrieved 2007 03 04 . cs1 maint unfit url link retrieved from https en.wikipedia.org w index.php title electricity authority of cyprus & oldid 738439187 categories electricity authoritiespower companies of cyprushidden categories cs1 maint unfit url navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages edit links this page was last modified on 8 september 2016 at 23 46 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view