The transition from the period of subsidies to renewable sources, to their participation directly in the market, is the main priority of the Ministry of Environment and Energy, which also includes the storage of energy in batteries, said the Minister of Environment and Energy Theodoros Skylakakis speaking today at the 28th Annual Economist Government Roundtable.

“RES today are very cheap. And batteries can operate in the market without subsidies, especially during times of “green” energy cuts. We will open the storage market with a bill that will be submitted in the next two months,” the minister said. At the same time, he announced a 70% reduction in the value of letters of guarantee for RES producers in order to reduce costs.

In his message to the conference, the undersecretary for energy of the US Department of State, former US ambassador to Greece, Geoffrey Pyatt underlined the role of Greece for the energy security of the region as well as the great potential for the development of offshore wind potential.

At the same conference:

  • The Minister of Energy of Moldova, Victor Parlicov, emphasized that the energy blackmail from Russia has changed the energy landscape in the region as countries that were almost 100% dependent on Russian gas have become interconnected with the EU and are active in energy transit. He was also in favor of the development of the “vertical” natural gas corridor from Greece to Central Europe.
  • The Secretary General of the East Mediterranean Gas Forum, Osama Mobarez underlined the importance of regional cooperation and securing financing for natural gas projects in the region.
  • Former US Assistant Secretary of State Matthew Bryza said that geopolitical planning of energy projects sometimes creates compromises and other tensions, citing Turkey’s stance as an example. He was in favor of increasing the capacity of the Turkish-Bulgarian natural gas interconnection from 3 to 15 billion cubic meters per year by securing private financing.
  • The managing director of the IGI Poseidon pipeline, Fabrizio Mattana, spoke about the need to diversify energy sources and routes.
  • The managing director of DESFA, Maria Rita Galli, stated that the reduction in the prices of Russian natural gas led to the fact that today it covers 60% of domestic needs, while the percentage was almost zero 2 years ago. This development, as he said, hinders the development of the natural gas vertical corridor as companies avoid making long-term commitments. He argued, however, that investments should not depend on short-term price developments.
  • The president of SolarPower Europe and CEO of Principia Aristotelis Hadavas noted the need to accelerate the green transition since RES is the cleanest and cheapest source of energy that increases energy security at the same time.
  • The partner of Metaxas & Associates Law Firm, Antonis Metaxas, pointed out the need for clean and transparent rules in the energy market and in particular regarding the cuts of “green” energy. “Without legal certainty, clear rules and transparency we cannot have the significant investments required,” he said.