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IENE’s Ad Hoc Meeting on the Security of Greece’s Energy System Attracted Maximum Attention

IENE’s Ad Hoc Meeting on the Security of Greece’s Energy System Attracted Maximum AttentionThe critical and urgent problems facing the Greek energy system which, last January, nearly lead to a black-out, were highlighted at IENE’s special evening event on March 15, entitled “The Safety of Greece’s Energy System”. The meeting attracted maximum attention with more than 75 IENE members attending this groundbreaking event

The critical and urgent problems facing the Greek energy system which, last January, nearly lead to a black-out, were highlighted at IENE’s special evening event on March 15, entitled "The Safety of Greece’s Energy System”. The meeting attracted maximum attention with more than 75 IENE members attending this groundbreaking event.

Through an overall and in-depth exchange of views, high-ranking executives of public and private sector energy companies, government and public administration officials, representatives of sectoral energy associations, academics and energy experts, analyzed the shortcomings and the challenges that the country’s energy system has to deal on a daily basis.

Three were the main axes of the roundtable discussion which formed the greatest part of this IENE special event:

- Distortions in the operation of the Greek electricity market: A steep rise in Greece’s electricity exports to neighboring countries was caused due to domestic low prices, during last December and January. Thus, the quantity of electricity available in order to meet electricity demand in Greece’s domestic market, due to the adverse weather conditions, was inadequate. The participants concluded that the wholesale prices did not reflect the scarcity of the product and were totally undervalued.

- Problems in the Greek natural gas market: Apart from problems similar to the ones described above regarding the country’s electricity market, the Greek natural gas system also faced scarcity of storage facilities, thus stressing the need to build new ones (in the Revythousa LNG terminal or elsewhere). Lack of adequate gas supplies restricted the operation of gas-fired power plants contribution to electricity shortages.

- Lack of long-term energy planning: The need for establishing a long-term energy planning was stressed by all participants in the roundtable discussion. In this context the Chairman of Greece’s Regulatory Authority of Energy, Dr. Nikolaos Boulaxis, who participated in the event, said that this need will soon be met as the Authority is determined to start the formulation of such a planning in 2017.

All the above were discussed in a 2-hour intense roundtable meeting which was moderated by Prof. Pantelis Capros, Director of E3MLab, at NTUA, who is also Chairman of IENE’s Scientific Committee.

IENE, from its part, informed all participants that the full minutes of this special event, along with the conclusions and recommendations, will be sent to all entities and authorities involved in Greece’s energy sector. Subsequently, a brief consultation among all participants in the energy market will take place and its outcome, to be presented in a special paper, which will be sent to all the competent bodies within the country’s public administration.


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