A Background Paper entitled “Key Energy Issues in Europe with Special Reference to SE Europe and Greece” which was prepared by the Institute’s research team on the occasion of IENE’s annual conference, has just been uploaded on the Institute’s website. (here) The paper reviews the latest developments at European level and then focuses on SE Europe and Greece.
Europe’s midterm and long term energy demand prospects are examined In conjunction with economic developments and taking into consideration the targets set by EU’s green deal and the drive to strengthen the continent’s strategic autonomy in view of rising dependence from China. In this respect and taking also into consideration latest geopolitical developments (see war in Ukraine and the crisis in the Middle East) the issue of energy security has of late emerged as key issue in European and national policies.
This latest IENE Background Paper also deals with latest developments in the electricity and gas markets and discusses the great price volatility which is has became evident over the last few months and has caused great anguish to households and businesses. The high penetration of Renewable Energy Sources in the electricity mix in SE Europe, and Greece in particular, is discussed at length, especially in view of increased electricity curtailments as a result of surplus solar energy inputs into the system.
The IENE paper also deals with the role of natural gas as one of the main energy supply pillars in SE Europe and in Greece. The latest trends in gas supply and use in the region is discussed, especially after the substantial decrease of Russian gas imports over the last two years. The addition of new FSRU gas terminals in combination with the establishment of the Vertical Corridor is helping bolster energy security in the region but also facilitate gas to gas competition.
Finally, Greece’s main energy challenges are identified and discussed at length together with the energy policies currently pursued by Greece’s government. It emerges that the issue of increased electricity prices is central to the shaping of future energy policies in Greece and SE Europe.
