The economic recession and a 60% decrease in revenue has pushed the Greek Orthodox Church to apply to create a privately owned and operated power station to compete with those run by the Electricity Authority of Cyprus (EAC) according to a report by CyprusNewsReport.com
The announcement was made by the Archbishop of the Greek Orthodox Church in Cyprus, amidst the island’s worst energy crisis in recent times. Following the disastrous blast at Moni, the rising costs of electricity are choking households and businesses when coupled with the other rising living costs, overqualification of the workforce and decreased spending of tourists to the country.
The Church, as one of the island’s largest landowners, signed preliminary agreements to start the island’s first independently owned powerstation. As much as the strangling monopoly of the EAC must be ended, is the Orthodox Church really the right organisation to take up this role? Leave your opinions below in the comments.