Europe: Brent oil, TTF...

During the fourth week of June, Brent crude oil futures prices experienced a...

Europe: Electricity prices fall...

In the fourth week of June, average electricity prices declined across most major...

Europe: Electricity demand rises...

During the week of June 23, electricity demand rose across most major European...

Solar and wind energy...

During the week of June 23, solar photovoltaic (PV) energy production rose in...
Supported byClarion Energy
HomeSEE Energy NewsGreece: The share...

Greece: The share of electricity produced in gas-fired power plants to decrease by 73% in 2030

Greek gas-fired power plants are planned to contribute a total of 5.4 TWh to the energy mix in 2030, down from 19 TWh in 2022, a 72 percent reduction that will be unavoidable as a result of the influx of more renewables, Aristotelis Aivaliotis, the energy ministry’s General Secretary of Energy and Natural Resources, has told an Energyear conference, held in Athens.

Market players, responding to this diminished role for gas-fueled power stations, as set in an updated National Energy and Climate Plan’s goals for 2030, are already calling for a Capacity Availability Mechanism that could protect their financial sustainability.

Though the reduced role of gas-fueled power stations will put these facilities in the red, they will remain essential for energy security at times of lower RES production levels.

Market officials expect the financial standing of gas-fueled power stations to be destabilized well before 2030, as early as 2026, when at least 1.5 GW in new RES facilities are expected to have been added to the domestic electrical grid.

As a result, a Capacity Availability Mechanism will need to be ready for implementation by the end of 2025, they added.

Renewables are projected to have captured an 87 percent share of the energy mix in 2030, according to the revised NECP. This target will require an installed and operating RES capacity of 27 GW by the end of the decade

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Europe: Brent oil, TTF gas and CO2 prices decline in late June amid easing Middle East tensions

During the fourth week of June, Brent crude oil futures prices experienced a decline. On Monday, June 23, the price settled at $71.48 per barrel, already 7.2% lower than the last session of the previous week. Prices continued to...

Europe: Electricity prices fall in late June amid lower gas costs and high renewables

In the fourth week of June, average electricity prices declined across most major European markets compared to the previous week. The United Kingdom’s N2EX market experienced the largest drop, falling by 28%. Other markets saw decreases ranging from 1.3%...

Europe: Electricity demand rises in most markets amid seasonal shifts and holidays

During the week of June 23, electricity demand rose across most major European markets compared to the previous week. Germany and Italy saw the largest increases, with demand growing by 8.2% and 8.1% respectively. France experienced the smallest increase...
Supported byVirtu Energy
error: Content is protected !!