31 Annual Report 2021 the Official Gazette of the Republic of Cyprus and notified licensees, license applicants or other interested parties that they can submit their written comments, objections and/or presentation of the draft Regulatory Decision to CERA. Pursuant to the draft Regulatory Decision, CERA decided to repeal Regulatory Decision No. 03/2020 (KDP 165/2020) "on the Establishment of the Basic Principles for the Formulation of the Ten-Year Transmission System Development Plan". For the continuous updating of all licensees, license applicants, and any other interested parties, in the context of complete transparency in view of the imminent operation of the competitive electricity market in Cyprus, the draft Regulatory Decisions provides for the inclusion of the following criteria in addition to the provisions of the Law: • The distinction of projects that are included in the Ten-Year Transmission System Development Plan into support and expansion projects aimed at separating the projects that are deemed necessary for improving the operation of the Transmission System (support projects) and projects that are required for the connection of users to the system (Producers, High Voltage Customers). • The preparation of a techno-economic feasibility analysis for every new transmission project that may be included in the Ten-Year Transmission System Development Plan. • The total estimated cash flows of all transmission projects. • Detailed time schedule for the implementation of the transmission projects. • Any environmental and/or other restrictions during the load flow simulations Upon completion of the public consultation in January 2022, CERA will publish the General Table with all the comments that have been submitted and will then process the comments and the results will be published. DECISIONS Decision 12/2021 - Approval of Calculation Methodology and Prices of Monthly Capacity Factors (CFg) of the Transitory Regulation of the Electricity Market for 2021 By Decision 12/2021, CERA approved the monthly load factor of production plants in the Cypriot system (CFg) for 2021. Decision 15/2021 - Allowed Revenues and Regulated Electricity Tariffs for 2021 By Decision 15/2021, CERA approved the Allowed revenue and Regulated Basic Electricity Tariffs for 2021 as presented in Table 1. The Allowed Revenues for 2021, include cost-plus adjustments for 2019, based on the Methodology of Allowed Revenue Adjustments issued by CERA pursuant to which there was a decrease of 3.2%, on average, in the total of Regulated Electricity Tariffs, for 2021.
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