Power supply from the northern Turkish occupied areas of Cyprus to the southern government controlled areas will continue for six more months, after Cyprus’ main power plant in Vassiliko, was badly damaged following a blast of munitions in the nearby Naval Base “Evaggelos Florakis”, in July.

The agreement was signed Monday by associate of the Cyprus Chamber of Commerce and Industry, economist Costas Apostolides, as a private individual and provider and is based on the EU Council Green Line Regulation, which entered into force on 1 May 2004 and defines the terms under which provisions of EU law apply to the movement of persons, goods and services across the Line between the Turkish occupied areas of Cyprus and the government controlled part of the country.

In statements to CNA, Apostolides said that an agreement was signed Friday between himself, as a private individual and provider, and the Electricity Authority Cyprus (EAC), while yesterday another agreement was signed between himself and the so-called Turkish Cypriot electricity authority.

Apostolides said that the agreement provides for the supply of electricity for six months, until February 2012. The daily available power from the occupied areas could reach 120 MW, depending on electricity needs as well as on availability.

The cost is expected to be lower than the cost of the first agreement signed right after the tragic events at the Naval Base, since it was signed based on a different formula.