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Greece energy report

Greece energy report
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This analysis includes a comprehensive Greece energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.


  • Greece aims to cut GHG emissions by 55% in 2030, by 80% in 2040, and to reach net zero emissions by 2050.
  • To overcome its reliance on lignite, Greece is developing gas-fired power plants and renewables.
  • PPC dominates the power sector with 49% of power generation.
  • Helpe accounts for 65% of the refining capacity.
  • Italian companies control the gas market.
  • Renewables accounted for 48% of the power mix in 2022. Lignite is disappearing from power generation.
  • Greece is fully dependent on imports for its natural gas and oil supplies.
  • Electricity prices drastically increased in 2022 (+40% for industries and +24% for households), despite subsidy mechanisms.
  • Per capita energy consumption is 40% below the EU average.
  • The share of oil in total energy consumption reached 52% (2022).
  • The closure of lignite-fired power plants was postponed due to supply risk following Russia's invasion of Ukraine.
  • The country is focusing on the development of gas and solar capacity (44 GW of solar under development).
of GHG emissions by 2030
share of wind and solar in the power mix (2022)
lignite-fired capacity end of 2028
  • Institutions & Energy Policy

    The Ministry of Environment and Energy (MoEE) coordinates the energy policy and controls public companies. The General Secretariat for Energy and Mineral Resources (MoEE department) is responsible for implementing energy policy in sectors including power, oil, gas, renewables, and energy efficiency.

  • Energy Companies


    Helpe (Hellenic Petroleum,35.5% HRADF, 45.5% Paneuropean Oil and Industrial Holdings) is the national oil company. In 2019, Greece delayed the sale of 50.1% in Helpe (35.5% of HRADF and 14.6% of Paneuropean Oil stakes) as the shortlisted buyers, a consortium led by Glencore Energy and another led by Vitol, failed to submit binding bids before deadline.

  • Energy Supply


    Greece's hydrocarbon resources are negligible (despite recent exploration activities launched in 2012): oil reserves of 1 Mt and gas reserves of 1 bcm (end of 2022). It has considerable lignite resources (2.9 Gt). The hydro potential is estimated at 15 TWh/year. The country has a high wind potential, but very little of it is exploited.

  • Energy Prices


    Electricity prices have been increasing since 2019 (by 13%/year for households and by 29%/year for industry). Previously, prices had been decreasing slightly since 2014 (-1.4%/year for households and -4.2%/year for industry until 2019), following steady growth since 2000. In 2022, electricity prices for households increased by 24% and for industry by 40%.

  • Energy Consumption

    Total energy consumption per capita is 1.9 toe in 2022 (40% below the EU average), including around 4 500 kWh of electricity (20% below the EU average).


  • Issues & Prospects

    The coming years should see the application of the policy on the diversification of energy supplies and the penetration of natural gas.

  • GRAPH 1: Co2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2022, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2022, %)
  • GRAPH 5: Gasoline & diesel prices (€/l)
  • GRAPH 6: Electricity prices for industry and households (€c/kWh)
  • GRAPH 7: Gas prices for industry and households (€c/kWh GCV)
  • GRAPH 8: Consumption trends by energy source (Mtoe)
  • GRAPH 9: Total consumption market share by energy (2022, %)
  • GRAPH 10: Final consumption market share by sector (2022, %)
  • GRAPH 11: Oil consumption (Mt)
  • GRAPH 12: Oil consumption breakdown by sector (2022, %)
  • GRAPH 13: Electricity consumption (TWh)
  • GRAPH 14: Electricity consumption breakdown by sector (2022, %)
  • GRAPH 15: Natural gas consumption (bcm)
  • GRAPH 16: Gas consumption breakdown by sector (2022, %)
  • GRAPH 17: Coal consumption (Mt)
  • GRAPH 18: Coal consumption breakdown by sector (2022, %)
  • Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
  • Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
  • Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
  • Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
  • Infrastructure Projects: Covers power plant projects by energy, technology, status and operator, gas plant projects by status and operator and LNG contracts.

The Greece energy market data since 1990 and up to is included in the Excel file accompanying the Greece country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

  • Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
  • Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
  • Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
  • Energy Balance: total and per energy.
  • Greece Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Greece energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).

The Greece country dashboards are complemented with country forecasts from EnerFuture (excel file) with scenario comparison.

Data included in the excelsheet:

  • Demand: Primary energy consumption, final energy consumption, by fuel, by sector.
  • Power: Electricity generation & capacities, by technology.
  • CO2: Total CO2 emissions.
  • Macro-economy: Main macro-economic assumptions.
  • Key indicators: Energy intensity, share of renewables, CO2 emissions per capita and per unit of GDP.