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Greece energy report

Greece energy report
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Format
4 files (PDF report, 3 Excel files)
Pages
41 (Report only)
Delivery
Immediate by e-mail
Table of Contents
  • GENERAL OVERVIEW
  • INSTITUTIONS AND ENERGY POLICY
  • ENERGY COMPANIES
  • ENERGY SUPPLY
  • ENERGY PRICES
  • ENERGY CONSUMPTION
  • ISSUES AND PROSPECTS
  • DATA TABLES
  • ABBREVIATIONS
  • GLOSSARY

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Overview

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.

Highlights

  • Greece aims to cut GHG emissions by 58% in 2030 and reach net zero emissions by 2050.
  • To overcome its reliance on lignite, Greece is developing renewables, which should cover 81% of its capacity in 2030.
  • PPC dominates the power sector with 38% of power generation.
  • Helpe accounts for 2/3 of the refining capacity.
  • Italgas is the largest gas distributor.
  • Renewables accounted for 47% of the power mix in 2023. Lignite is disappearing from power generation.
  • Greece is fully dependent on imports for its gas and oil supplies.
  • Electricity prices surged in 2021 and 2022, despite subsidy mechanisms.
  • In 2023, oil and gas prices decreased compared to 2022.
  • Per capita energy consumption is 34% below the EU average.
  • The share of oil in total energy consumption reached 54% (2023).
  • Greece plans to phase out lignite-fired power plants by 2026.
  • The country is focusing on the development of gas and solar capacity (47 GW of solar under development).
-55%
of GHG emissions by 2030
49%
share of wind and solar in the power mix (2023)
0
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

    Gas:

    DEPA (HRADF 65%, Helleniq Energy Holdings 35%) isthe national gas company. The privatisation of HRADF's stake was put on hold in 2021. In 2019, the company was split into DEPA Infrastructure for gas distribution to end consumers (sold to Italgas in 2022), DEPA Commercial for wholesale and retail activities (over 350,000 retail customers), and DEPA International Projects.

  • Energy Supply

    Oil:

    All crude oil is imported (27 Mt in 2023). The main suppliers are Iraq (40% in 2023), Kazakhstan (22%), and Libya (14%). Until 2021, Russia was one of the top three exporters to Greece, but imports fell by 76% in 2022 (0 in 2023).

  • Energy Prices

    Oil:

    Oil product prices were liberalised in 1992 and follow international prices: the price of gasoline increased by 14% in 2021 and 25% in 2022, and diesel prices by 16% in 2021 and 36% in 2022. In 2023, prices decreased by 7% for gasoline and 9% for diesel. Fuel prices, which used to be well below average EU prices, are now close to the EU average.

  • Energy Consumption

    Total energy consumption per capita is 1.8 toe in 2023 (34% below the EU average), including around 4 700 kWh of electricity (13% below the EU average).

    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.

  • GRAPH 1: CO2-energy emissions (MtCO2)
  • GRAPH 2: Installed electric capacity by source (2023, %)
  • GRAPH 3: Gross power production by source (TWh)
  • GRAPH 4: Power generation by source (2023, %)
  • 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 (2023, %)
  • GRAPH 10: Final consumption market share by sector (2023, %)
  • GRAPH 11: Oil consumption (Mt)
  • GRAPH 12: Oil consumption breakdown by sector (2023, %)
  • GRAPH 13: Electricity consumption (TWh)
  • GRAPH 14: Electricity consumption breakdown by sector (2023, %)
  • GRAPH 15: Natural gas consumption (bcm)
  • GRAPH 16: Gas consumption breakdown by sector (2023, %)
  • GRAPH 17: Coal consumption (Mt)
  • GRAPH 18: Coal consumption breakdown by sector (2023, %)
  • 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.