Regulatory Authority for Energy
State grid operator ADMIE intends to concede up to 39 percent of its special purpose vehicle Ariadne, created to undertake the power interconnection between Crete and Attica. The stake will be sold to third-party investors, with priority to be granted to certified power transmission operators from fellow European Union states.
Energy authorities have been in emergency mode over the last few days to ensure a sufficient supply of electricity and natural gas to Greece, as a prolonged cold spell has shot demand up to record levels and the gas network is operating without reserves, despite the operation of the new depot on Revithoussa island.
Greece's energy regulator has opted to sidestep the European Commission and appointed a subsidiary of state grid operator ADMIE to fund and construct the power interconnection between Attica and Crete.
This is a high-risk decision that may have legal consequences for the project, and lead to more delays than those it is trying to avoid.