Vasilikos power station is gone. Tough times for Cyprus ahead

Cyprus Mail reports that Vasilikos power station was completely destroyed by the explosion.  But we already sort of knew that.  The questions were more along the line of “What now?”.  Cyprus Mail provides some good analysis as to how this will affect Cyprus in the nearest future.

However the cost of this explosion does not just affect in terms of rebuilding, compensating and repairing. The dynamic effects on companies will ensure a return to deep recession, especially if you factor in the effects of the electricity crisis is having in Cypriot companies. The electricity shortage causes three devastating blows to our economy: reliability, capability and cost.

The lack of reliability in electricity provision is a great drag to the economy. Already power cuts are taking place and sadly it seems that since our electricity system is operating at full capacity the authorities have not been able to announce when and where such cuts should occur. As a result business are already suffering from lost labour time, repairing software and hardware issues relating to cuts, and an ever greater need for technical support, all in a period where the focus has been to cut costs and thus remain competitive with other European companies.

Read the full article for more.

14 thoughts on “Vasilikos power station is gone. Tough times for Cyprus ahead”

  1. Who told them that Vasilikos station is gone? The area is secured by the police and no one can enter the area. So until experts (not journalists) check the station and say that is gone, it’s better to wait rather than exaggerating.

      1. In my opinion there aren’t credible resources in Cyprus. Most of them over exaggerate information. The only way to be sure is to cross reference news.

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    1. of course its nearly gone, wake up chrys.
      The containers with all the stuff which blow up was just next to it

  2. Hm, weird…

    Government announced the plans of scheduled outages right the next day after explosion. The state also declared that the restore of the electricity station will take around 6 months.

    Economy is screwed of course, when people cannot work normally, but personally, i think that the article lacks objectivity, caused by strikes next to presidential palace in Nicosia. It starts to look like a bubble.

    1. The state, on the other hand, I don’t trust. I don’t think they had enough time even until now (not to mention right after the explosion) to really access the damages and evaluate the time needed to restore the power station.

      Those are not strikes but protests. They are mostly fueled by the fact that nobody was punished or took responsibility for the explosions. Power cuts are minor reason.

      1. Two ministers already resigned from their posts.I doubt that changing president will affect anything. Politicians do not change, but those who put that cargo next to strategically important place (electrical station and military base) should be judged. Those who couldn’t keep explosives in proper warehouses (and not under the sun) should be judged as well.

        Police was using tear gas already in Nicosia, so it might take just a small sparkle to come from protests to real aggression…

        1. Resignations are not enough. People died here. Someone has to go to prison.

          As for the police and tear gas – most of the protest was peaceful. Also the one yesterday was with no violence at all. During the first protest there were a few violent youngsters in the crowd. Most people who were there had nothing to do with them.

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