At this moment there is adequacy, for now and for the coming months we are satisfied. Of course, one must see the intensity and extent of the crisis. No one can estimate how it will evolve. This was highlighted by Environment and Energy Minister Stavros Papastavrou responding today at the Power & Gas Forum to a question regarding energy adequacy in the country due to the Gulf crisis.
Mr. Papastavrou emphasized the importance of renewable energy sources’ participation in the country’s energy mix, noting characteristically that everyone understands what level prices would be at if we were in the 2006 situation with a 60% lignite share. He added that in early May the new Special Spatial Planning Framework for renewables will be presented and that the gradual development of storage (target of 700 megawatts by the end of the year and 2.5 gigawatts by the end of 2027) will help with system stability and reduction of “green” production curtailments.
Mr. Papastavrou made special reference to electricity theft which, as he said, costs 450 million euros per year to honest consumers. “Electricity theft skyrocketed in 2022 with the crisis and it is reasonable to assume that a prolonged crisis now will lead to a new increase. This is a profound social injustice. A special directorate has been created by HEDNO to address the problem with the help of artificial intelligence for better targeting of inspections as there are certain activities where the phenomenon has greater depth. At the same time, smart meter installation is proceeding, today there are 1.5 million, the target at the end of the year is to be 2.2 million and at the end of 2027 3.5 million. The minister further emphasized that inspections revealed there are even organized groups offering electricity theft services providing related ‘patents’ to interested parties,” he reported.
Papastavrou: Infrastructure strengthening prerequisite for Vertical Corridor to implement Russian natural gas import ban
Finally, he confirmed the timeline for hydrocarbon exploration with the exploratory drilling in the Ionian Sea in February 2027 while reiterating that the EU’s goal is to implement the ban on Russian natural gas imports by also closing the “back door” through the Turk Stream. Something that, as he said, presupposes strengthening infrastructure in the Vertical Corridor and filling Ukraine’s natural gas storage facilities that will be used as reserves.
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