26 Cyprus Energy Regulatory Authority The Electricity Law provides, among other things, for: • the introduction of a new licensing regime for production, transmission, distribution, supply, and storage of electricity as well as the operation of the market and the interconnection with electricity systems, • the establishment of the Transmission System Operator - Cyprus (TSOC), • the establishment of a framework for arrangements between the Owner of Transmission System and TSOC, • the establishment of a framework for arrangements between TSOC and the Distribution System Operator (DSO), • the regulation of a framework for arrangements between the Interconnector Owner and TSOC; between the Interconnector Owner and the Interconnector Operator; between the Interconnector Operator and TSOC; between the Interconnector Operator and neighboring Transmission System Operators, and between TSOC and neighboring Transmission System Operators, • the regulation of access to the transmission system and to the distribution system, • the introduction of Public Service Obligations, • the regulation of issues pertaining to the protection of the consumer in relation to the electricity market, and • the regulation of issues related to the protection of vulnerable customers and energy poverty. Laws Regulating the Natural Gas Market of 2004 to 2021 Laws Regulating the Natural Gas Market of 2004 to 2021 were passed for harmonization with Directive 2003/55/EC concerning common rules for the internal market in natural gas. On 7 October 2021, the House of Representatives passed the (Amending) Law Regulating the Natural Gas Market of 2021. The Laws Regulating the Natural Gas Market of 2004 to 2021 provide for the regulation of the natural gas market in the Republic and among other things establishes the rules pertaining to the transmission, distribution, supply, and storage of natural gas and determines the rules regarding the organization and operation of the natural gas sector, access to the market, the operation of the networks, and the criteria and procedures for the granting of licenses for the transmission, distribution, supply, and storage of natural gas. The rules that are established with the Laws Regulating the Natural Gas Market of 2004 to 2021 for natural gas, including LNG, shall also apply in a non-discriminatory way to biogas and gas from biomass or other types of gas in so far as such gases can technically and safely be injected into, and transported through, the natural gas system. Law for the Establishment and Operation of the Cyprus Energy Regulatory Authority of 2021 On 7 October 2021, the House of Representatives passed the Law for the Establishment and Operation of the Cyprus Energy Regulatory Authority of 2021, L.129(I)/2021, for harmonization with Article 57 of Directive (EU) 2019/944 on common rules for the internal market for electricity and Article 39 of Directive 2009/73/EC concerning common rules for the internal market in natural gas. The Law for the Establishment and Operation of the Cyprus Energy Regulatory Authority of 2021 provides for the establishment and operation of the regulatory authority at national level, pursuant to the provisions of Directive (EU) 2019/944 and Directive (EU) 2009/73/EC, with the ability to decide on
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