The second part of August is proving to be less heat intensive than originally predicted. In this vein, during Week 34 (17– 23 August 2020) electricity demand fell across the SEE region. During this period, as cooling needs subsided, wholesale electricity prices declined notably in Central Europe, windpower generation receded moderately throughout the region, while lower precipitation affected the local hydropower yield, as weather remained sunny throughout the region.
Last Monday (24/8) Greece took one more step towards implementation of the Alexandroupoli FSRU terminal, a major gas importation project which is at an advanced planning stage. In a ceremony attended by Greece's Prime Minister Kyriakos Mitsotakis and his Bulgarian counterpart, Boyko Borisov, a shareholders agreement was signed for the participation of state controlled Bulgartransgaz in Gastrade SA, the company which originated the project and which will be in charge for its operation
According to an announcement on August 21 by Turkey's president Recep Tayyip Erdogan a major gas field has been discovered in the Turkish section of the Black Sea.Hailing the find Turkey's president said that " this is a historic step" for the country's troubled economy and its energy security. Presenting details of this latest energy find, Mr.Erdogan said that following exploration activity by TPAO, the state owned petroleum company,a 320 by cubic metres gas deposit had been found
The Greek government in an effort to increase energy savings through improved energy efficiency in the building sector has just announced a major programme for subsidizing up to 85% of the cost of investments for energy savings for houses and up to 50,000 euros per household.
On August 4 the Financial Times published a letter,in both their electronic and print editions, by IENE's chairman, Mr. Costis Stambolis, in which he argues that the EU has a binding obligation to pay in full the costs to all local communities affected by its ambitious decarbonisation plans.
The installed capacity of Renewable Energy systems in SE Europe has more than doubled during the past decade, with local systems exceeding 85.56 GW of installed capacity in 2019 according to a latest IENE survey conducted as part of the Institute’s forthcoming “SEE Energy Outlook 2020/2021” report.
This week IENE celebrated 17 years since its establishment. The Institute was founded in July 2003 as a non-governmental and non-profit organization, based in Athens, under the name Institute of Energy for SE Europe (IENE), by a group of 14 independent scientists, engineers, academics and business executives working professionally in the broad energy sector.
Following the success of the first two seminars organized by IENE, last year, on electricity markets the Institute is now planning the third in the series which is scheduled for September 15 - 16, 2020.
Whether in the form of forthcoming hydrocarbon exploration by Turkey's TPAO in offshore areas as defined by last November's agreement between Libya and Turkey, which has hence been pronounced illegal by Greece as it infringes its EEZ, or through the efforts of Libya's National Oil Corporation to resume full scale oil production, oil continues to play key role in regional geopolitics.
According to a recent report by the European commission wholesale electricity prices in the Greek market were the highest in Europe in the first quarter of 2020. Even though this is a problem that has recently caught the attention of Greek authorities and press, it is an ongoing issue, that was intensified in 2019.
The fast changing gas market scenery in SE Europe on account of LNG’s relentless penetration into local energy markets and the pivotal role of gas in decarbonizing most Balkans countries, emerged as key discussion areas in IENE’s latest Webinar which was held on July 8.
As opposition to the use of gas as substitute fuel in the drive towards decarbonization is growing daily in EC's senior echelons, most energy corporations which use coal or lignite for power generation in SE Europe are looking forward to the switch to gas as this is the fastest and most efficient way to remain in business.
A wide ranging discussion on latest developments in SEE’s Energy Gas Markets will take place during IENE’s next Webinar scheduled for Wednesday, July 8.
At a time when discussions at EU level are culminating ahead of the head of governments meeting on July 16/17 which will seek agreement on how post coronavirus stimulus funds of some €750 billion are to be distributed between member countries, a lot of attention is being paid on the role that clean energy technologies are expected to play in resuscitating the European economy, which right now is suffering its worst post war recession.
Following an extensive discussion, hosted by IENE in its last webinar on June 24, between well placed energy experts from Bulgaria, Greece and North Macedonia on the electricity market situation in the region in the light of the ongoing coronavirus crisis, the picture which emerged was reassuring concerning their viability and long-term prospects.
A wide ranging discussion on latest developments in SEE’s Energy Markets will take place during IENE’s tenth Webinar scheduled for Wednesday, June 24. This IENE Webinar is part of a series which the Institute is organizing lately in order to examine the impact of the pandemic on energy markets including oil, natural gas, electricity and renewables with the participation of well-known experts, academics and industry executives.
Following the launch of the present series of Webinars on May 14 a total of nine such events have been organised attracting a relatively large number of IENE members and associates who logged in and followed the discussions and presentations.
Cross border and undersea electricity interconnections play key role for the smooth operation and balancing of energy flows between countries and regions. Last week a major step forward was taken in completing the electricity interconnection of the island of Crete with mainland Greece.
Greece on June 5 unveiled the legal framework and tax incentives to promote the use of electric cars, motorcycles and bicycles, as part of its 10-year climate plan for lower carbon emissions. Greece now has only about 1,000 electric cars - 0.3% of its fleet - on its roads, a very low rate compared to other EU countries, such as Germany, where they account for about 10% of the fleet.
World Environment Day (WED) is celebrated on 5 June every year, and is the United Nations' principal vehicle for encouraging awareness and action for the protection of our environment. This year’s theme is the protection of biodiversity – a concern that is both urgent and existential.
