The Electricity Authority of Cyprus (EAC) (Greek: Αρχή Ηλεκτρισμού Κύπρου (ΑΗΚ)) was founded in 1952 by the British colonial government. The 28 private electricity companies of the time were nationalized and absorbed into the EAC. The Authority never received any subsidies from the government as these have always been prohibited by law.
The Electricity Authority of Cyprus (EAC), established in 1952 by the British colonial administration, took over the management of the 28 private electricity companies.  The EAC was never funded by the government through subsidies, which are forbidden by law.