Greek Energy Market Report 2024 | Powered by National Bank of Greece

In 2024, Greece's energy sector continues its transformation towards sustainability and resilience, aligning with global trends of moving away from fossil fuels. Despite progress, fossil fuel reliance persists, balanced by increased RES investments. Rising EU carbon prices spur decarbonization, with Greece leading in RES electricity generation. Challenges remain in meeting NECP targets and energy efficiency. Natural gas remains crucial, with Greece enhancing LNG capacity to reduce dependency on Russian imports and become a regional energy hub.

The special focus of this year’s Greek Energy Market Report is put on the Power & Gas Networks, with significant investments in power and gas distribution networks, highlighted as key growth areas and the spine of the energy transition. The national electricity grid has received a lot of attention in the past year, focusing on the decarbonization of Non-Interconnected-Islands (NIIs) and their gradual integration into the main electricity grid. The full completion of the NII interconnection project, alongside other RES projects, signifies a strategic move towards net-zero goals. From 2024-2026, major developments in NG infrastructure, H2-ready pipelines and pilot biomethane projects are anticipated, aligning with sustainable energy goals and reinforcing Greece's commitment to a resilient, eco-friendly energy landscape.

The 2024 edition is now available exclusively to HAEE Members.

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