Cyprus Energy Regulatory Authority Annual Report 2021

151 Annual Report 2021 32. Contingent liabilities As at 31 December 2021 there were pending claims against the Authority in relation to its activities. Based on legal advice, the Top Management believes that adequate defences exist against any claim sought and do not expect the Authority to suffer any loss. Accordingly no provision has been made in these financial statements in respect of this matter. Windpower Ltd against Cyprus Energy Regulatory Authority (Lawsuit number 1493/2019): The case is scheduled for May 16, 2022 and the Plaintiff through the lawsuit claims the amount of € 22,015,373 as compensations of article 146.6 of the Constitution and the amount of € 1,300,651 as special compensations for expenses and losses for the purposes of submitting applications, licensing and preparation of the operation of the wind farm for electricity production. The possible outcome of this case can not be predicted with certainty. The possible outcome of the appeals against the decision of the Authority to reject the applications of the Applicant Companies for the granting of a license for the supply of natural gas to wholesale customers and for the granting of a property license, is not expected that the Authority will suffer any damage. 33. Commitments Operating lease commitments The future aggregate minimum lease payments under non-cancellable operating leases are as follows: 2021 2020 € € Within one year 297.274 352.731 Between one and five years 115.334 123.918 412.608 476.649 31. Related party transactions Cyprus Energy Regulatory Authority is a public body entity that has been established in Cyprus according to Law N.122(I) of 2003, which has been replaced by the Law N.129 (I)/2021. The following transactions were carried out with related parties: 31.1 Top Management's remuneration The remuneration of Top Management was as follows: 2021 2020 € € Top Management's remuneration in their executive capacity 255.577 261.690 255.577 261.690

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