Regulatory Authority for Energy

By decision of the Greek Regulatory Authority for Energy (RAE), ICGB AD receives a license for an Independent Transmission System Operator (INGS).

The cost of the government's handling of the power interconnection between Crete and Attica and the related clash with the European Commission is rising.

The project for the power interconnection between Crete and Attica is facing further delays, as the authority that examines corporate cases before they go to court (AEPP) has decided to suspend the tender for the procurement and installation of two converter stations and an electric substation.

Concerns have grown at Public Power Corporation in the last couple of days over the serious possibility that the Energy Ministry will not table in Parliament the amendment regarding the approval of the payment of the utility subsidy from 2011 through funds from the primary budget surplus.

Imports of liquefied natural gas (LNG) are hampered by the decision of the Regulatory Authority for Energy over the pricing of the natural gas network, reversing the strategic advantages of the Revythousa terminal for the broader region and depriving Greek enterprises of a relatively cheap source of energy.

The landmark electricity interconnection of Crete with Attica is proceeding in a vague regulatory framework with unknown consequences for the future.

Greece's unilateral decision to remove the Crete-Attica power linkup from the European Union's list of projects of common interest (PCI) and instead implement it as a national project will lead to a delay of at least six months in the project.

The Public Power Corporation (PPC) has announced 542mn euro in losses for 2018 in a report that also underlines the reduction of the company's debt and an increase in investments and in debt collection.

The common front between the Regulatory Authority for Energy (RAE) and the Independent Power Transmission Operator (ADMIE) against the Cypriot EuroAsia consortium appears to be cracking due to the project for the power interconnection of Crete with Attica.

Greece's Electricity Distribution Network Operator (DEDDIE) has sent a letter to Public Power Corporation warning of blackouts on the island of Crete ahead of the summer tourism season unless measures are taken at once to tackle a host of serious problems.