15 Annual Report 2021 • Decision 374/2021 - Approval of Transitory Regulation parameters for the Security Covers of the Electricity Market, Version 1.7 for 2022 • Decision 375/2021 - Approval of Transitory Regulation Parameters of the Electricity Market Version 1.7 for 2022 • Decision 376/2021 - Parameters set by the DSO for the Transitory Regulation of the Electricity Market for 2022 • Decision 383/2021 - CERA Reserve Fund Policy • Decision 386/2021 - Approval of Amendments proposed to the Transmission and Distribution Rules by the Transmission System Operator - Cyprus - Version 5.3.0 Electricity - Responsibilities and Powers of CERA • Ensures genuine competition in the Electricity Market, avoiding adverse discrimination and ultimately aiming at price reductions. • Protects the interests of the consumers. • Promotes the development of an economically viable and efficient electricity market. • Ensures adequacy in electricity supply for the satisfaction of all reasonable needs and demands for electricity. • Safeguards the continuity, quality, reliability and security of electricity supply. • Encourages the efficient use and generation of electricity. • Issues, controls, enforces, amends, and revokes licenses or grants exemptions from licenses. • It is a single point of contact for informing consumers. • Sets the rules or the procedures under which complaints are examined which relate to services offered by the licensees, including, where appropriate, the carrying out of investigations and decision-making for such complaints. • Carries out investigations either following the submission of a complaint or initiated by CERA ex officio. • Ensures that licensees operate efficiently and are in a position to finance the business activities for which the license has been issued. • Determines, publishes and imposes quality standards with which licensees have to comply. • Regulates tariffs, charges and other terms and conditions to be applied by licensees for any services provided pursuant to the terms of their licenses. • Promotes the development of regional markets within the Community so that they can operate competitively and properly in order to achieve security of supply. • Promotes the elimination of electricity trade restrictions among Member States, including developing appropriate cross-border transmission capacities to meet demand and enhances the integration of national markets. • Ensures that the Regulations governing the operation of electricity networks and the electricity market (Transmission and Distribution Rules and Trading and Settlement Rules) are prepared and approved in accordance with the Law.
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