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No plans for further rate hikes in electricity, says Energy Minister

Public Power Corporation (PPC) stands to gain roughly 300 million euros from the measures for a special renewable energy sources account. This will create significant room in terms of pricing policy and put an end to any discussion of rate hikes for electricity, Environment and Energy Minister George Stathakis said in an interview with the Athens-Macedonian News Agency.

In the interview published on Sunday, Stathakis also referred to the national plan for energy and climate that will be completed in September, Greece’s progress toward achieving RES targets, the negotiations underway for the East Med natural gas pipeline and the ongoing negotiations with the European Commission on the participation of coal-burning power plants in the Capacity Remuneration Mechanism.

Among others, the minister noted that the “electrification” of transport and heating/cooling in coming years, as well as the interconnections linking the islands to the mainland grid, will increase demand for power in the future. For this reason, he explained, the government is promoting programmes to improve energy efficiency.

PPC’s success in the new environment depends on its ability to offer consumers competitive products, Stathakis added, and it is already moving in this direction.

Among others, he noted the results of the ‘Save at Home’ programme for improving building energy efficiency and measures on using residences as a place of business. amna

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