The basic findings of the study
The course of energy transition to Greece and Europe, and the necessary steps related to its liberation energy market and investments in the fields of energy storage and distribution networks, reflects a study published by the Liberal Studies Center in collaboration with the EPICENTER thought tank network.
According to the findings of the study, ‘Greece is making steady progress in the participation of RES in the energy mix, with the country exceeding the corresponding European average in 2023. Greece increased their share of participation RES In the energy mix of 61% (or 9.6 percentage points) from 2014 to 2023, with this performance ranking it in the 7th highest position in changing the share of RES in the energy mix for the reference period between 36 European countries. As for the cost of electricity, the average price (in purchasing power units) in the first half of 2024 in Greece for consumption of 2,500-4.999 kWh stood before taxes at 0.24 euros/kWh (17th place between 29 countries) and after taxes of 0.29 euros/kWh (16th).
According to the same card, the basic findings of the study are as follows:
- “The significant reduction in carbon use, especially after 2010, reflects Greece’s commitment to charrification and reducing CO₂ emissions. At the same time, gas has been established as a “transitional” source of energy, while RES, although boosting the supply, need better integration into the network.
- Greece is making steady progress in the participation of RES in the energy mix. From 2014 to 2019 it was left over the EU-27 average, and from 2020 onwards convergence is recorded, with the country exceeding the European average in 2023. Greece increased its share of RES in the energy mix by 61% (or 9.6 percentage points) from 2014 to 2023. Changing the share of RES participation in the energy mix for the reference period between 36 European countries, and respectively to the 10th highest position in the increase in percentage points.
- In terms of the participation of RES in the production of electricityGreece made significant progress in the period 2014-2023. By 2021, the country was below the EU average, but since then it has surpassed it, reaching 2023 to record a performance of 3 percentage points higher than average. With 48%, it took the 14th place among 34 European countries, while with a 120% increase in 2014, it was 11th in the corresponding change.
- Are required Investments to upgrade network, development of storage technologies and flexible demand managementto reduce the rate of lost power from RES lost (3.3% in Greece in 2024) because it exceeds demand.
- The degree energy dependency Greece’s imports in 2022 was the 5th largest in the EU, with 79.5% of the total energy consumed in the country being covered through imports, and the European average of 62.55%.
- The average price electricity (in purchasing power units) in Greece for consumption of 2,500-4,999 kWh remains close to the European average during the period 2007-2024. In 2022, without taxes and subsidies, it amounted to EUR 0.55/kWh, while subsidies reduced to EUR 0.29/kWh. In the first half of 2024, the price before the taxes was 0.24 euros/kWh (17th between 29 countries) and after taxes of 0.29 euros/kWh, with a charge of 0.05 euros/kWh (16th).
- In Greece, the energy intensity (energy efficiency of an economy) in 2023 reached 84.13 kg of equivalent oil per 1,000 euros of GDP, a performance of 2 points lower than the EU average. The country occupied 14th place of energy efficiency, which is linked to the limited number of energy industries.
- A mix of more efficient energy strategy policies would include the gradual abolition of price regulation, the strengthening of competition in energy markets, the strong growth of RES, and the development of electricity transport networks. “
On the issue, KEFIM CEO, Nikos Robapas, said: “Energy transition is a major bet for both Greece and the European Union. The viability of this critical process has clear conditions: maturing and liberalizing the energy market and investing in energy storage technologies and distribution networks. This is the only way to increase the EU’s energy autonomy and the effectiveness of the use of RES so that the cost of energy for households, industry and businesses will therefore significantly reduce the cost of energy, industry and business. “
