Cyprus' President recently met with the ministers of energy and finance, Cyprus Energy Regulation Authority (CERA) and the Electricity Authority of Cyprus (EAC) to come to a consensus about reducing the cost of electricity.
The G-7 coalition comprising of Germany, France, the UK and USA, Japan, Canada and Italy is inching toward an agreement on expanding its sanctions against Russia by looking for a mechanism to cap the purchase price of Russian oil.
The Energy Ministry of Greece plans to scrap a surcharge on electricity bills imposed by power companies. The move comes as part of government efforts to alleviate the impact of soaring energy costs on consumers.
South Korea's Industry Minister Lee Chang-yang will visit the Czech Republic and Poland this week to support Korean firms in their bids to win construction contracts for new nuclear power plants in the two countries.