Greece energy report

• By 2030, Greece aims to reach 35% of renewables in final energy consumption and cut GHG emissions by 55%.
• By 2050, the country targets carbon neutrality.
• PPC (51% state owned) 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 accounted for 36% of the power mix in 2020.
• Lignite is disappearing from power generation.
• Gasoline prices are 20% above the EU averages.
• 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

  Electricity:

  PPC (Public Power Corporation or DEH in Greek) is the largest power producer and is active in electricity transmission and distribution. It is 51% state-owned (34% directly and 17% through HRADF). The privatisation of PPC started in 2001 with a capital increase and a divestment of 16% of the capital and the sale of 17% in 2016 under the third international bailout.

• Energy Supply

  Oil:

  Crude oil production is negligible and covers 1% of the country's oil needs. Greece imported about 27 Mt of crude oil in 2020. The main suppliers are Iraq (36%), Russia (18%), and Kazakhstan (17%) (2020. Iran used to be a large supplier (34% in 2011) before the EU embargo of 2012. In 2016, Helpe signed an agreement with NIOC to resume crude oil imports from Iran.

• Energy Prices

  Oil:

  Oil product prices were liberalised in 1992 and follow international prices: the prices of gasoline and diesel declined in 2020 (-9% and -14%, respectively) and increased by around 8% in 2021. Gasoline prices, which used to be well below average EU prices, have exceeded the EU average since 2010 (+11% for gasoline).

• 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.