As of Article 15 of the Regulations (Licensing), the Cyprus Energy Regulatory Authority (CERA) may revoke the license in progress, if:
 
  • The revocation of the license has been requested in writing by the holder and CERA agrees with the revocation request;
  • CERA noted that the license was granted based on substantially incorrect or misleading information;
  • There is a change in the ownership of the license holder and CERA does not approve such change under the terms of the license;
  • Any fee, payable in accordance with the applicable license fees regulations, has not been paid within thirty (30) days of the date it became payable;
  • CERA discovers that the licensee violates any of the terms or any modified terms or any license requirements and, where CERA has issued a regulatory decision, the licensee fails to remedy the breach within a time limit;
  • The licensee fails to comply with any decision issued by CERA or by the Minister in relation to the licensed activities;
  • CERA has reasons to believe that the licensee intends to stop permanently from carrying out the licensed activities;
  • The licensee has been declared bankrupt.
 
License Revocation Process

If any of the above conditions apply, CERA may, in accordance with articles 27 and 40 of the Electricity Market Law, give notice to the licensee, stipulating that the license will be revoked unless the breach is corrected within the time Determined by CERA.

In the event that an infringement cannot be rectified or where the licensee has failed to remedy the breach for which a notice has been served, CERA shall, by decision, determine the effective date of the revocation and notify the licensee in writing.