Cover MICHANIKI GROUP OF COMPANIES
Vital role of renewables he financial development of a country is based on a number of important keystones. Among these is energy in its various forms: electricity, fossil fuels (e.g. lignite, coal, oil and natural gas) and renewable sources (e.g. hydro, wind and solar). The main objective of Greece’s energy policy is to analyze the growing demand and the correspondent possible supply of each energy sector and to secure with the necessary technical, commercial, legislative and regulatory measures the balance between demand and supply in each sector and the price, which must be socially acceptable and competitive. Greece’s energy policy is implemented by a political, social, financial and legal framework influenced by many foreseen and unforeseen aspects of national, European Union and other international factors. According to the abovementioned general remarks and taking into consideration: 1. The global energy crisis has led oil prices over 70 US dollars per barrel, due to the unbalance between the demand and supply and other structural factors; 2. Global warming and the relevant environmental commitments to CO2 reduction of the Kyoto Protocol and the new carbon emissions market etc, for the reduction of the greenhouse effect, which has already created immense environmental and financial problems; 3. Greece’s need to avoid sanctions and fines resulting from the provisions of EU Directives 2001/77 and 2003/87 etc, and 4. Greece’s need to secure energy sufficiency and the reduction of energy dependence on oil and natural gas, it is strictly necessary for the country: a. To develop a strategy to exploit the main energy sources — lignite — and renewable energy sources (hydro, wind, solar, biofuels) in order to reduce dependence on energy imports and to secure a balance between production-supply and the consumption demand on these energy sources. The above target is also the European Union’s target to reduce the dependence on energy imports, which are expected to rise further, reaching 70 percent by 2020. This is especially true for oil and gas, which increasingly come from sources further away from the European Union, often with certain geopolitical risks attached. Attention will therefore increasingly focus on security of supply. Lignite and renewable sources of energy will then have an important role to play in reducing the level of energy imports with positive implications for balance of trade and security of supply. b. To develop a strategy to emphasize energy efficiency and a reduction in consumption over production and imports. This target will also help efforts to reduce greenhouse gas emissions. The accomplishment of the targets of the above-
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mentioned strategies will be based on the following: ñ The liberalization of the electricity and natural gas sectors, which theoretically have been almost accomplished and will promote the development of the internal electricity market in terms of efficiency gains, price reductions and increased competitiveness. The implementation of biofuels in the energy balance, especially in the transportation sector, and a strong subsidy policy for renewable energy sources
A key objective for Greece is to meet the growing demand and introduce measures that will boost competitiveness in the sector — changes that will also be socially acceptable. will promote and increase the contribution of such sources to electricity production, especially in the internal electricity market. ñ The evaluation and improvement of the existing legislative and regulatory framework for the licensing procedures of energy projects, taking into consideration the environmental impact of such projects. Issues such as national landplanning and forest legislation are of major importance for the development of energy projects. ñ The securing of the development, maintenance, reliability and safety of electrical transmission and distribution systems, taking into consideration that the transmission system and distribution system operators must be required to secure any new producer of electricity the possibility to be connected to the grid with a comprehensive cost associated with the connection. ñ The assessment whether the existing, underconstruction and planned interconnections with other Balkan countries, as well as other related infrastructures, mainly of Balkan countries, such as power transmission systems along with oil and gas pipelines are appropriated to ensure a parallel and synchronous operation mode etc. This is very important for the coming three years, during which there will be a deficit between the installed power of the Greek interconnected electricity system, which is about 11,500 megawatts, and the edge demand that exceeded 10,500 MW in June 2007. It is Michaniki’s will and policy to participate in the development of renewable energy sources in Greece, especially in the development of big hydropower units, utilizing the technical know-how and experience acquired during its 34 years of cooperation with the country’s Public Power Corporation in the construction of hydraulic tunnels, dams and other large public works projects.