At the moment there is enough, for now and for the next few months we are satisfied. Of course, one has to look at the intensity and extent of the crisis. No one can estimate how it will develop.
This was pointed out by Environment and Energy Minister Stavros Papastavrou in response to a question on energy sufficiency in the country due to the Gulf crisis at the Power & Gas Forum today.
Mr. Papastavrou stressed the importance of the participation of Renewable Sources in the country’s energy mix, noting that everyone understands what level prices would be at if we were in the situation of 2006 with a 60 % share of lignite. He added that in early May the new Special Spatial Framework for Renewable Energy will be presented and that the gradual development of storage (target 700 megawatts by the end of the year and 2.5 gigawatts by the end of 2027) will help the stability of the system and reduce “green” production cuts.
Papastavrou made special reference to electricity theft, which he said costs honest consumers €450 million a year. “Electricity theft took off 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 set up by the BPA to address the problem with the help of artificial intelligence to better target the controls as there are certain activities where the phenomenon is more profound. At the same time, the installation of smart meters is progressing, currently 1.5 million, the target at the end of the year is 2.2 million and at the end of 2027 3.5 million.The Minister also stressed that the audits have revealed that there are even organised groups offering the service of electricity theft by making available relevant “patents” to those concerned,” he said.
Finally, he confirmed the timetable for hydrocarbon exploration with exploratory drilling in the Ionian Sea in February 2027 and reiterated that the EU’s aim is to implement the ban on Russian gas imports by also closing the backdoor via Turk Stream. Something he said would require strengthening infrastructure in the vertical corridor and filling Ukraine’s gas storage facilities to be used as reserves.
