Greece’s energy impasse and the fact that the country ranks among the EU member states with the lowest ratio of storage capacity to installed capacity of Renewable Energy Sources (RES)—a mere 2%—in a question he submitted to the European Commission. The question was posed by PASOK MEP and Vice-President of the Group of the Progressive Alliance of Socialists and Democrats (S&D), Yannis Maniatis.
As noted, among other things, in the Greek MEP’s question, this lag limits the benefits of affordable green energy, undermines the stability of the power grid, destabilizes prices, and threatens the viability of renewable energy projects.
According to recent reports, despite the significant penetration of photovoltaic and wind renewable energy projects in our country, unfortunately Greece has only 0.22 GW of installed battery capacity, resulting in a Storage Adequacy Index – RES of just 2%.
As a result, our country fails to utilize surplus renewable energy production to stabilize the power grid and reduce energy prices; according to a recent study by Eurelectric, each GW of long-duration storage can reduce the variable costs of the power system by 150–250 million euros annually.
Greece’s meager performance, combined with the exceptional storage performance of European markets interconnected with our country (Bulgaria: 3.5 GW with 52% grid-connected renewable energy, Romania 1.7 GW with 18% RES, and Italy 7.8 GW with 14%), allows our neighbors to import and store affordable Greek green energy, increasing the stability of their power systems and ultimately securing better energy prices for their own households and businesses.
The European Commission itself acknowledges Greece’s energy impasse, as in this year’s European Semester Report on Greece, it acknowledges that increasing energy storage will reduce blackouts and boost the use of green electricity, and that Greece has made limited progress in implementing the 2025 Recommendation (CSR).
According to the report, the Commission called on Greece to develop flexibility solutions that include storage and will help make electricity prices more affordable. Furthermore, it highlights the significant and rapidly increasing cuts to green energy (estimated to reach 12% by 2026!), as well as the uncertainty forcing smaller renewable energy producers to exit the market.
This withdrawal is leading to even greater concentration among a few powerful renewable energy producers.
The PASOK MEP is calling on the European Commission to clarify the storage investments and reforms that Greece has included in the Recovery Fund, to provide a breakdown of the MW of storage capacity that has been connected to the Greek power grid to date, and to estimate the annual cost to Greek energy prices resulting from the delay in implementing these projects.
The full text of the Question follows:
“According to media reports, despite the significant penetration of renewable energy sources, Greece has only 0.22 GW of installed battery capacity (Renewable Energy Storage Adequacy Index – RES AI 2%), in contrast to neighboring countries such as Bulgaria (3.5 GW / RES AI 52%).
This year’s European Semester Report on Greece acknowledges that increasing energy storage will reduce blackouts and boost the use of green electricity, and that Greece has made limited progress in implementing the (CSR) to develop flexibility solutions that include storage and will help make electricity prices more affordable.
It also notes the significant and rapidly increasing cuts, as well as the uncertainty, which are forcing smaller renewable energy producers to exit the market. Finally, it calls on Greece to improve the design of support schemes for the addition of smaller energy storage systems using batteries connected to renewable energy installations.
The Commission is asked:
- What are the Greek energy storage measures (investments and reforms) that were initially included in the Recovery Fund but have not yet been implemented?
- How many MW of storage capacity have been funded by the Recovery Fund, and how much of that capacity is currently connected to the power grid?
- Can the annual cost to Greek energy prices resulting from the delay in implementing these projects be estimated?”