Regulatory Authority for Energy

Greece's Regulatory Authority for Energy (RAAEY) has made a significant decision regarding the methodology for calculating the regulated revenue of the Greece-Cyprus electricity interconnection project, marking a crucial step toward finalizing the regulatory framework for the Great Sea Interconnector (GSI) project.

Investments of 5.5 billion euros are included in the new 10-Year Development Plan of the Independent Power Transmission Operator (ADMIE) for the period 2025-2034 which is to be put to public consultation in the next few days before being submitted for approval to the Regulatory Authority for Energy.

The Ministry of Environment and Energy is aiming for the abolition of emergency measures in the retail electricity market in September but also for a return to normality from December or even the new year, and not on October 1 as expected. 

Aluminium of Greece has become the first industry to utilize the demand response service in the balancing market, in which electricity is bought and sold in real time to ensure the stability of the electricity system.

Members of the anarchist activist group Rouvikonas attacked the Regulatory Authority for Energy (RAE) on Wednesday and damaged the authority's offices at Piraeus Street on Wednesday.

Specifically, 10 individuals entered through the building's main entrance and began vandalizing the walls and spray painting slogans.

The vote on the Environment Ministry's draft omni-bill has been postponed until next week after receiving a barrage of criticism.

The storage of energy produced from renewable sources is critical to the success of the "green" transition.

For this reason, the new state blueprint directs investment interest in new technologies and mainly in storage. Companies' interest in storage systems is strong and already exceeds the goals set by the blueprint.

Greek industries that are able to operate on alternative fuel will be the first to be asked to reduce their natural gas consumption in the event that the mandatory 15% reduction measure is activated, as provided by the European regulation for dealing with supply disruption situations.

A new decision by Environment and Energy Minister Kostas Skrekas sets out the conditions and procedure for the leasing and exploitation of geothermal fields for the production of electricity.

Greece's independent power transmission operator (ADMIE) reported revenues of 67.8 million euros in the first quarter of 2021, with after-tax profits of 8.2 million euros, with investments up by roughly 60 percent yoy.