Regulatory Authority for Energy
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.
The results of the first tenders by the Regulatory Authority for Energy (RAE) for new renewable energy source projects - based on the offer of more competitive prices - have come as a shock to the local market.
The domestic players appear unprepared for the entry of foreign investors who offer considerably lower and clearly more competitive rates.