May 5, 2023
Economy
“Energy tourists” in Greece have burdened energy suppliers with an estimated overdue debt of 300-400 million euros. “Energy tourists” are repordely households and businesses, who move from one electricity provider to another leaving unpaid bills. According to calculations by the General Manager of “Natural Gas” and president of ESPEN (Association …
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March 30, 2023
Economy, FEATURED
Greece is at risk of blackouts during the Easter days, the Independent Power Transmission Operator (ADMIE) has warned. Reason for the problem is that this year, the participation power production by the Retail Electricity Suppliers (RES) has increased and there are still no energy storage units that could provide energy …
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March 21, 2023
Economy
The majority of Greek power providers have announced significantly lower rates for April, following the easing of prices in the Greek energy exchange and in international markets. In many cases the prices are already lower than 15-16 cents per KWh, which is the target price for consumers after including state …
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March 16, 2023
Economy, FEATURED
The European Parliament has passed a regulation that bans sale or renting of homes without energy upgrade. All properties available for sale or rent must incur compulsory energy upgrade costs, costing tens of thousands of euros, from 2030 onward, based on what is stated in the relevant European Union directive. …
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February 23, 2023
FEATURED, Greece, Politics
US Senate Foreign Relations Committee Chairman Bob Menendez called the East Mediterranean as a “promising region” during the 1st East Macedonia & Thrace Forum in Alexandroupoli, examining the role of the region in upgrading Greece’s geopolitical footprint. In a video message, he highlighted the prospects of the region despite the …
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January 19, 2023
Economy
A decline in energy cost must be rapidly reflected on Greek households’ and enterprises’ energy bills, Yiannis Masoutis, president of the Union of Hellenic Chambers said on Thursday. “It is a top priority that needs to become reality, without any delay, to rapidly reflect a decline in energy cost (electricity …
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December 12, 2022
Economy, FEATURED
Soaring energy inflation, accumulated debt, increases in raw materials and declining consumption are increasing bakeries shutdowns in Greece, with bakers not even being able to put… bread on their tables. In the last two months, more than 50 bakeries have shut down, increasing the number of “locks” to 260 within …
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December 1, 2022
Economy
The Athens Tax Office on Wednesday confirmed that electricity producers owe 367,067,027.54 euros in total for the extraordinary levy of 90%, based on the increase of their gross profit margin for the period October 2021-June 2022. This amount, as stated by Finance Minister Christos Staikouras, is payable until December 30, …
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November 3, 2022
Greece, Politics
At the Berlin Process Summit in Berlin, Prime Minister Kyriakos Mitsotakis is expected to highlight Greece’s leading role, not only as a pillar of stability and security in the region, but also as a key force for energy security and the diversification of energy sources in the Balkans and Southeast …
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November 1, 2022
Economy
Government officials are busy working out the plan for reducing energy consumption by 5%, which is to become mandatory for industries from December 1, 2022 to March 31, 2023. The first draft, presented last week by the Energy Ministry and Independent Power Transmission Operator (ADMIE) to representatives of industrial companies, …
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October 20, 2022
Economy
Greece has submitted a proposal for the construction of a direct electricity interconnection with Austria and Germany, with an initial capacity of 3.0 gigawatts, Environment and Energy Minister Kostas Skrekas revealed at the Renewable and Storage Forum on Thursday. “It is not an easy project but there is great need …
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October 20, 2022
Politics, Turkey-GR
US State Department expressed on Wednesday the opposition of the United States to the agreement announced by Turkish President Recep Tayyip Erdogan for the creation of a natural gas hub in cooperation with Russia. “We have worked closely with our allies and partners to impose severe and unprecedented costs on …
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October 9, 2022
Economy, FEATURED
Retail stores in Thessaloniki are proceeding with the cutting of operation hours in order to save energy and operational cost, even though this is a local initiative and not implemented across the country. The energy saving operation starts on Monday, October 10, 2022. The measure is not mandatory and retailers …
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October 3, 2022
FEATURED, Politics, Turkey-GR
Libya’s Tripoli government signed a preliminary deal on energy exploration on Monday, prompting Greece and Egypt to say they would oppose any activity in disputed areas of the eastern Mediterranean. Libya’s eastern-based parliament, which backs an alternative administration, also rejected the deal. Speaking at a ceremony in Tripoli, Turkish Foreign …
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September 28, 2022
Economy
Τhe European Commission should set up an 80-billion-euro fund to deal with the fallout from high natural gas prices, proposed Environment and Energy Minister Kostas Skrekas to EU officials on Tuesday. Skrekas made the proposal ahead of the Ministers of Energy Emergency Council on Friday, in a letter to Executive …
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September 14, 2022
Economy, Uncategorized
The EU plans a “deep and comprehensive reform of the electricity market” to cope with an energy crisis spurred by Russia’s war in Ukraine, European Commission chief Ursula von der Leyen said Wednesday. The measures include a cap on electricity producers’ profits that would raise 140 billion euros ($140 billion) …
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September 13, 2022
Economy
The exterior lighting of the Parliament building in central Athens will not be switched on at night as part of the national effort to save energy. By decision of Parliament Speaker Kostas Tasoulas, the lighting on the front and sides of the building will be discontinued, while only the perimeter …
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September 12, 2022
Economy, FEATURED
Two days after Prime Minister Kyriakos Mitsotakis announced at the International Fair of Thessaloniki a series of support measures for the society and some professional sectors amid the energy crisis, Finance Minister Christos Staikouras specified the measures on Monday morning. Top on the agenda of government support and the society …
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September 4, 2022
Economy, FEATURED
Development Minister Adonis Georgiadis urged Greeks to seek alternative ways for heating, warning that the upcoming winter will be worse than the one in 1942, when the country suffered famine due to occupation by the German Nazis in WWII. Heating oil is currently 6 times cheaper than natural gas. the …
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August 4, 2022
Economy
Finance Minister Christos Staikouras announced on Thursday he will present a supplementary budget to cover the cost of additional aid for households and businesses hit by high energy costs. Speaking to state boradcaster ERT, the finance minister cited “satisfactory” fiscal data. Staikouras said the performance of tourism and revenues from …
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