Greece energy report

• By 2030, Greece aims to achieve 38% of energy efficiency, reach 50% of renewables and no coal in its power mix, and cut its GHG emissions by 42% compared to 1990.
• The privatisation and re-structuring processes of the energy sector is progressing slowly due to the unstable economic and political situation of Greece.
• The Public Power Corporation (PPC) dominates the power sector and holds around 55% of generation capacity.
• Helpe (Hellenic Petroleum) and Depa, the national oil and gas companies, dominate their respective markets.
• Greece is dependent on oil and gas imports as its own resources are quite limited. Lignite reserves play an important role in the energy supply, especially in power generation.
• On the whole, fuel prices have been above the EU averages since 2010.
• Electricity and gas prices remain lower than the EU average.
• Total energy consumption has been decreasing since 2008 as a result of the deep financial crisis.
• The main objectives for the future are to increase the penetration of gas and the renewable capacity. The country strives to become a physical and pricing gas hub in the region.

• Institutions & Energy Policy

  The Ministry of Environment and Energy coordinates the energy policy and controls public companies.

  The Regulatory Authority for Energy (RAE) regulates the electricity and natural gas markets according to EU Directives. Another energy law adopted in 2011 further strengthens the RAE.

• Energy Companies

  Gas:

  Depa, the national gas company, is controlled by the State through HRADF (65%) and Helpe (35%). The company was recently split into DEPA Infrastructure for gas distribution to end consumers and DEPA Commercial for wholesale and retail activities (over 350,000 retail customers).

• Energy Supply

  Resources:

  Greece's hydrocarbon resources are negligible (despite recent exploration activities launched in 2012). It has proven oil reserves of 1.7 Mt and proven gas reserves of 1 bcm as of 2019. 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:

  Electricity prices have been decreasing slightly since 2014 (-1.4%/year for households and -4.2%/year for industry until 2019), following steady growth since 2000: industrial prices rose by more than 6%/year over 2000-2014, while residential prices rose by nearly 5%/year between 2000 and 2011 and by 13%/year between 2011 and 2014.

• Energy Consumption

  Total energy consumption per capita is 2.1 toe in 2019 (33% below the EU average of 3.1 toe), including around 4 900 kWh of electricity (12% below the EU average). The significant decrease in consumption since 2008 is a result of the deep economic crisis.

  Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)

• Issues & Prospects

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

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Greece energy market report graphs:

• GRAPH 1: Co₂-energy emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2019, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2019, %)
• 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 (2019, %)
• GRAPH 10: Final consumption market share by sector (2019, %)
• GRAPH 11: Oil consumption (Mt)
• GRAPH 12: Oil consumption breakdown by sector (2019, %)
• GRAPH 13: Electricity consumption (TWh)
• GRAPH 14: Electricity consumption breakdown by sector (2019,%)
• GRAPH 15: Natural gas consumption (bcm)
• GRAPH 16: Gas consumption breakdown by sector (2019, %)
• GRAPH 17: Coal consumption (Mt)
• GRAPH 18: Coal consumption breakdown by sector (2019, %)

In the Greece energy market report you will find the following tables:

• 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 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.