
In the final compromise text at the Council of Energy Ministers, the two proposals claimed by the Greek side were finally included.
It expressly provides for the possibility of activating the protection mechanism against any high prices as applied in Greece and reflected in a relevant EU regulation. The mechanism, if needed in the event of a new crisis, provides for the collection of surpluses from the wholesale market to finance consumer price subsidies.
Also, in the framework of the power availability mechanisms, an explicit provision was included that allows the availability fee for natural gas units if they meet the technical specifications that will be required, a provision with which the mechanism for flexibility can be applied, as the Energy Commissioner also explicitly stated.
The disagreement that remained in the Council concerns the manner of implementation of the contracts of financial disputes between the state and nuclear plants that are renovated and extend their life time. Agreement was reached on all other issues.
Speaking to the council, the Greek Minister of Environment and Energy, Pantelis Kapros, stressed that the reform of the electricity market must ensure protection from energy price shocks and in addition effectively promote large investments in RES and storage within a reliable electricity system.
According to the Greek service minister, the new regulation promotes financial disputes contracts, between the state and investors in new RES investments. “These contracts are a great tool for consumers to have direct access to the low cost of renewable energy while providing income certainty for investors and facilitating cheap financing,” said Mr. Kapros.


Latest News

Moody’s Upgrades Greece to Investment Grade, Ending Crisis Era
The rating agency raised Greece’s long-term credit rating to Baa3 from Ba1, with a stable outlook.

EFET on World Consumer Day: Humanity Faces New Challenges
This year’s message emphasizes the need for a transition to sustainable lifestyles while safeguarding consumers’ legally recognized rights. This means ensuring access to essential goods such as food and energy, as well as health and safety.

Athens Hotels Lead Europe in Value Growth for Third Year
Over the entire period from 2015 to 2024, the average annual increase in hotel value was 6.1%.

Unemployment Rate in Greece Down 8.9% in January: IOBE
The unemployment rate in Greece recorded a further decline in January 2025, reaching 8.9%, according to the latest Foundation for Economic & Industrial Research (IOBE) report.

Demand for Short Term Rentals in Greece Surges Ahead of Easter
Among the most popular Easter destinations from Good Friday to Easter Monday are Corfu, Hydra, the Peloponnese, Ioannina, Patmos, Loutra Edipsou, Kavala, Thassos, and Pelion

Opposition Reacts Strongly to Greek Government Reshuffle
PASOK's spokesperson, Kostas Tsoukalas, characterized the reshuffle as a clear indication of Mitsotakis' "strategic deadlock."

Greece’s Economy Awaits Moody’s Verdict on Investment-Grade Rating
The stock market has reflected strong performance, with the general index showing resilience and a lack of inward-looking caution.

Greek PM Reshuffles Cabinet after No-Confidence Vote
The most notable changes in the Greek cabinet reshuffle include Kostis Hatzidakis being appointed Deputy Prime Minister and Kyriakos Pierrakakis taking over as Minister of National Economy and Finance.

Mitsotakis: Greece-Israel Strategic Ties Increase Stability in East Med
Greek Prime Minister Kyriakos Mitsotakis made the statement in welcoming Israeli Foreign Minister Gideon Sa'ar to his office on Thursday

Conference Tourism in Greece Targets €6-7BLN
Currently, the Greek conference tourism generates €2 billion in revenue, ranking 47th globally in terms of total turnover in the international conference industry