Greece’s place on the energy map, as well as the policies, tools and investments required to achieve the goals of the green transition dominated the 5th thematic section “Energy, Green Development” hosted in the context of the 3rd Naftemporiki Economic Conference.
During the panel, the Minister of Environment and Energy, Theodoros Skylakakis, emphasized, among other things, that Greece must be energy independent by 2050, for the first time in its history, while he expressed the certainty that the country will become a major producer of green energy. He also referred to the achievement of the targets for Renewable Energy Sources (RES) and estimated that Greece is well on the way to a reduction in prices due to the faster progress of RES.
“Whatever the energy mix, in 2050 we must be for the first time in our history – at least since the 20th century – energy independent. This will be the ideal energy mix for Greece in 2050,” emphasized the Minister of Environment and Energy, Theodoros Skylakakis.
“Achieving RES targets earlier than we had estimated”
Skylakakis noted that the plan for energy and the country’s contribution to limiting climate change is already being implemented and in terms of goals there is an overachievement. “We have met the RES targets earlier than we had estimated and we have a reduction in greenhouse gases so large that we can give, or sell some millions of rights to interested third countries,” he said.
Reduction in prices due to the faster progress of RES
The Minister said that the overachievement of RES targets comes with a slower increase in demand for electricity, while electrification everywhere in the world is progressing more slowly than previously thought. “Consequently we will face a reduction in prices due to the faster progress of renewables in relation to electricity demand. This price reduction will be combined at some point in the next two to three years with a rapid reduction in gas prices,” he stressed, explaining that this will happen as “large spare capacity in LNG will be put into production internationally” but also because of the wars which are underway “in two key regions for the energy operation of fossil fuels: in the Middle East and between Russia and Ukraine.”
The road to national energy independence
As he pointed out, this effort is not short-term, it will last until 2050 and will have “national energy independence” as its final outcome. “Greece will not become a hub for energy to pass through, it will become a major producer of green energy, while important industrial investments will also be implemented.”
