About this webinar
Greece’s financial crisis continues to have a major impact on all facets of the country’s economy. In 2015, the financial crisis continued unabated. When significant economic recovery does occur, the energy sector will have a major role to play. The country has a high energy import dependency, which is expensive ‒ reportedly, about ~US$ 20 billion/year. The overall diversification of the energy mix is rather limited. Greece’s main indigenous energy resource is poor quality lignite, used to generate a significant proportion of the country’s electricity. The state-owned energy company Public Power Corporation S.A. (PPC) is the largest lignite producer. More than 93% of Greece’s energy is provided by fossil fuels, (EU average is 75%). In 2014, a new government was elected and energy policy changed direction as earlier plans to privatise parts of the energy sector were curtailed. However, conditions demanded recently by EU and IMF creditors, mean that privatisation schemes may be back on the table. This is likely to encompass natural gas and electricity supply. There has been a renewed focus on the potential of the country’s lignite resources. In order to minimise the cost of imported energy and improve security of energy supply, the present government intends to increase their use, primarily for electricity generation. The webinar examines the situation prevailing in the Greek energy sector, and how this might change in the future. Existing and proposed clean coal-based activities are discussed. However, major uncertainties (in terms of scope and timescale) remain over many aspects of energy production ‒ the nature of, and rate of economic recovery will undoubtedly have major impacts.