“Riddle for strong solvers” will be for the government a possible Russian attack on Ukraine, a scenario which seems more and more likely the last twenty-four hours. A Russian-Ukrainian conflict is expected to boost energy prices at a difficult time, causing strong inflationary pressures.
It is indicative that the reference prices of European gas jumped up to 14% to 88 euros per megawatt hour, the highest level for the most active contract since January 31, while the price of Brent yesterday increased 1.99% to 96.32 dollars per barrel and there are estimates even for $ 120 a barrel if the poles break out.
Energy prices and the consequent inflationary pressures are already gnawing on citizens’ incomes, but budget margins are finite. Especially since the economy is still facing the effects of the pandemic. There is no possibility for generalized interventions, because as the Prime Minister clarified in his interview with SKAI “no measure (will not be taken) without measurement and there will be no horizontal measures”.
In Maximou they recognize that the pressures will increase in the next period and for this purpose targeted interventions are planned for the most vulnerable within March.
Alternatives for energy efficiency
However, in terms of the country’s ability to meet its energy needs, even in the event of escalation of tension in Ukraine government circles appear reassuring. Greece supplies 35 to 40% of the gas it needs from Russia through the Turkstream pipeline. Analysts believe that even in a Russian invasion of Ukraine, Vladimir Putin will not close the tap of this pipeline that passes through Russia directly to Turkey.
However, in order to cover any possibility, in the meeting that took place yesterday at the Maximos Palace, all the precautionary measures that can cover the energy needs of the country were examined in case of any possibility.
In this context, according to information, it was decided that Revythousa is constantly at maximum gas capacity, to ensure that there will be a continuous supply of LNG from Algeria, which is a major supplier to Greece, while new supply lines such as Egypt are being considered. Also, two PPC gas units can run on diesel and the system can support hydroelectric power plants, while the units that run on lignite are expected to be “recruited”.
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