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Greek Electricity Market to Connect with That of Bulgaria, Minister Announces

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Environment and Energy Minister Kostas Skrekas. (Photo by Eurokinissi/ Yorgos Kontarinis)

ATHENS -- Environment and Energy Minister Costas Skrekas on Monday announced the connection of the Greek electricity market with that of Bulgaria and the creation of a natural gas market on the Greek Energy Exchange, speaking at an event organised by the Hellenic Energy Industries Association for the energy exchange.

According to the minister, the goals for the energy transition, namely the decarbonisation of electricity generation and the transition to Renewable Energy Sources, with natural gas as a bridge fuel the gas cannot be achieved without the Energy Exchange, which forms a transparent framework with reliable prices, promotes competition and reduces the financial risk.

The Greek market is already operating in conjunction with the Italian and the completion of its coupling with the Bulgarian market by the end of the year will improve the use of interconnections, noted Skrekas. It will also lead to increased competition and allow exports of energy from renewable sources, whenever there is an issue of excess green energy production that cannot be consumed domestically.