Greece energy report

• By 2030, Greece aims to reach 50% of renewables, phase out coal and lignite in its power mix, and cut GHG emissions by 42%.
• The Public Power Corporation (PPC) dominates the power sector and holds around 40% of power generation.
• Helpe (Hellenic Petroleum) and Depa, the national oil and gas companies, dominate their respective markets.
• Renewables account for 37% of the power mix.
• Lignite is disappearing from power generation.
• Gasoline prices are 20% above the EU averages since 2010.
• Electricity prices for households and industry and gas prices for households are 20% lower than the EU average.
• Total energy consumption dropped by 11% in 2020.
• 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

  Gas:

  The country's gas production is negligible. Natural gas imports started in 1996 and increased very rapidly between 2001 and 2008 (11%/year); they then fluctuated until reaching a peak of 4.8 bcm in 2011. They subsequently decreased until 2014 due to the economic crisis and then increased to reach 5.9 bcm in 2020 (twice the 2014 level), of which 43% as LNG.

• Energy Prices

  Gas:

  In 2021, the gas price was €4.9c/kWh for households (-9%/year since 2019) and €2.5c/kWh for industry (-12%/year since 2019). Industry and household gas prices surged over 2000-2012 (+9%/year and +13%/year, respectively), before declining until 2016-2017 (-18%/year for industry and -13%/year for households).

• Energy Consumption

  Total energy consumption per capita is 1.8 toe in 2020 (33% below the EU average of 3.1 toe), including around 4 600 kWh of electricity (12% below the EU average). Per capita consumption is still 33% below its peak level in 2008 (-14% for electricity)

  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 (2020, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2020, %)
• 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 (2020, %)
• GRAPH 10: Final consumption market share by sector (2020, %)
• GRAPH 11: Oil consumption (Mt)
• GRAPH 12: Oil consumption breakdown by sector (2020, %)
• GRAPH 13: Electricity consumption (TWh)
• GRAPH 14: Electricity consumption breakdown by sector (2020 %)
• GRAPH 15: Natural gas consumption (bcm)
• GRAPH 16: Gas consumption breakdown by sector (2020, %)
• GRAPH 17: Coal consumption (Mt)
• GRAPH 18: Coal consumption breakdown by sector (2020, %)

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.