Virtual net energy metering (VNEM) is a tariff arrangement that enables a multi-meter property owner to allocate the property’s solar system’s energy credits to tenants. The generated electricity does not flow directly to any tenant meter, but feeds directly back onto the grid.

According to a statement released by Stek, which represents four and five-star hotels, Pilides would favour utilising VNEM in the hotel industry and the hospitality sector.

“At a time when energy costs are constantly rising and actions to reduce the energy footprint of companies are intensifying, the two sides had the opportunity to discuss important issues of concern to hotels,” the statement said.

“VNEM is currently only applicable to businesses in the agriculture and residential sector. The minister, however, showed understanding to our request and found Stek’s suggestions of particular interest, pledging to study them further.

At the same time, according to the statement Pilides agreed in principle to an extension for the application period of the scheme allowing businesses to upgrade their energy systems, which ends on September 30.

Source: Cyprus Mail