The Hellenic Association For Energy Economics (HAEE) proudly presents the 2024 edition of the Greek Energy Market Report, powered by National Bank of Greece.

This year’s Report aims to explore the aftermath of the energy crisis and the return to stability. The comprehensive approach to the energy sector covers all topics from the Energy Transition, Electricity and RES to Oil & Natural Gas, Energy Efficiency and Investments, providing a detailed overview of the developments in the energy sector and market for Greece.

This year's spotlight was on Power & Gas Networks that will undoubtedly play a major role towards Greece’s goal to become a clean energy hub for Europe.

👉 The full edition of the Report is available exclusively to HAEE Members. Download it here. 

Decarbonising hard-to-abate sectors with renewables: Perspectives for the G7 | IRENA

This report provides actionable recommendations for the G7 to accelerate the decarbonisation of key hard-to-abate sectors including heavy-duty trucking, shipping, aviation and the production of iron, steel, chemicals and petrochemicals.

Managing the Seasonal Variability of Electricity Demand and Supply | IEA

This report analyses how seasonal variations in both demand and supply affect electricity system operations to 2050 – in Europe, India, Indonesia and Korea – and what sources will be used to manage them. Seasonal variations are put in context with the annual electricity mix and short-term (hourly) variability.

Batteries and Secure Energy Transitions | IEA

The IEA's Special Report on Batteries and Secure Energy Transitions highlights the key role batteries will play in fulfilling the recent 2030 commitments made by nearly 200 countries at COP28 to put the global energy system on the path to net zero emissions. These include tripling global renewable energy capacity, doubling the pace of energy efficiency improvements and transitioning away from fossil fuels.

Critical Raw Material Trade and Development Benefits | World Economic Forum

Demand for critical raw materials for the energy transition is soaring. Many count​ries are now engaging in state-to-state arrangements to encourage new project development and supply resilience in critical minerals. This white paper maps major examples of these arrangements.

Global Electricity Review 2024 | Ember

Renewables generated a record 30% of global electricity in 2023, driven by growth in solar and wind. With record construction of solar and wind in 2023, a new era of falling fossil generation is imminent. 2023 was likely the pivot point, marking peak emissions in the power sector.

The premature arrival of heatwaves this year in Greece raised power demand and brought a rise of wholesale prices and a return of lignite plants to the production mix.

It was precedented by an easy spring, when lignite plants stayed off market for long periods, while power prices where near 70 euros/MWh.

The scene changed abruptly in June when temperatures reached 40 degrees and consumers turned on their air conditioners. Presently, fossil fuel plants are often first in terms of share in the production mix compared to renewables, while their extra cost raises prices in the Energy Exchange.

A basic question is whether this violent change will become permanent in the following years, leading to different conditions for the power market. If high temperatures persist for longer periods every summer, then many things will have to change, such as units' maintenance schedules, consumption projections, import-export needs and the wider scheduling of system operators.

For now, the Greek system manages the situation well and achieves adequacy. Demand peaks remained below 10 GW and were covered easily with no problems for the wider system.

The 9th HAEE Energy Transition Symposium titled “Striving for Stability in a Highly Uncertain Energy World”, hosted by the Hellenic Association for Energy Economics, wrapped up its dynamic sessions from May 22-24, 2024, at Maroussi Plaza Centre, in Athens.

In the presence of politicians, thought leaders, heads of the private sector and representatives of academic and research institutions, the key insights of the conference discussions were that energy transition is complex, influenced by geopolitical decisions, and requires robust energy storage solutions to manage market fluctuations and uncertainty. Greece's renewable energy sector is on track, driven by substantial investments, but faces grid infrastructure challenges that need to be addressed for continued progress.

🎥 If you missed the Conference, all discussion panels are available on demand here. 

The fifth edition of InFocus entitled “Innovation in the Energy Sector Toward the Net Zero Era” highlighted the innovative technologies of the energy sector like solar-wind power integration, rooftop turbines, and next-gen hydrogen technologies, while also emphasizing the crucial role of innovation as a driving force in general.

The standard version of the report, including the valuable contributions of our Members is open to all.

The full version, including the scientific section prepared by HAEE team, is available only for HAEE Members.

Enjoy reading! 

The 24th edition of the Chart of the Month highlights a new electricity market for a high-RES energy system. 

ΗΑΕΕ proudly published the opinion article for the "Experts' Views" series, prepared by Ms. Ditte Juul Jørgensen, Director General of DG ENER, European Commission.

The article focused on EU's achievements to overcome the energy crisis post-Russia’s invasion by uniting under the REPowerEU Plan and boosting renewable energy investments. Despite successes, vigilance against market volatility remains essential.

Check out the full article, available below.

Register now and be part of our community to get access to a vast network of energy experts and professionals and to receive the latest and most accurate information on energy advances.