The President and CEO of the Independent Power Transmission Operator (IPTO) Manos Manousakis described the “green transition” as a huge opportunity for Greece, during his speech at the 7th Athens Investment Forum.
A necessary condition for Greece to take advantage of its abundant renewable potential is to develop its energy infrastructure in a timely manner, Manousakis said, explaining that in this way our country will be able in the future to commercially exploit the availability of “green” power.
He underlined that the networks are absolutely necessary for the transition that is needed in electricity generation. On this basis, he added that the IPTO has increased its annual investment costs ten times compared to 2017, with the addition of new interconnections and the renewal of critical system equipment.
He also noted that a key issue of the strategy is the full utilization of its infrastructure to create added value, noting that the next bet is the full digitization of system maintenance, so that it is done in a more efficient way and lead to even lower charges for consumers.
“The are many investments that need to be made,” he stated. He explained, however, that although they will require large expenditures, they will ultimately be in the interest of consumers, since the cost of the electricity will fall significantly.
As a solution for lowering energy prices in the short term, Manousakis suggested demand response, pointing out that the IPTO has already created relevant tools with which it provides high quality services to industries. In this context, he pointed out that important factors are the transfer of consumption from evening to midday hours and the installation of “smart” meters for domestic consumers.
“Having more RES than neighboring countries, it is in Greece’s interest to change the import-export balance and to export as much energy as possible. But the most important thing of all is to become self-sufficient. This is Greece’s great opportunity for the first time,” he emphasized, adding that the country, by developing a strong RES portfolio and a dense network of interconnections, will gain the ability to offer electric power at a regional level in the coming years.
