Η παρουσίαση της έκθεσης

IEA In-depth review of Greece Dr. Fatih Birol Executive Director, International Energy Agency

IEA

Athens, 2 November 2017 © OECD/IEA 2017

The global energy context today

 Global energy markets are changing rapidly  Solar at records highs, driven by policy support & cost reductions  Electric car sales are growing exponentially  Renewed focus on energy efficiency

 While a continued focus on oil security is essential, a broader approach to energy security is needed due to changes in natural gas & electricity markets  There is no single story about the future of global energy; policies will determine where we go from here

© OECD/IEA 2017

A rapidly shifting energy landscape Shares in growth in world energy demand Nuclear 2%

Coal 10%

Renewables 12% Renewables 32%

Oil 27%

Coal 47%

Gas 23%

Nuclear 0%

Oil 16%

2000-2010

Gas 31%

2010-2016

Since 2010, efficiency measures have slowed down growth in global energy consumption .

Renewables and natural gas account for almost two-thirds of the growth. Š OECD/IEA 2017

Natural Gas: The United States accounts for 40% of global production growth Global natural gas production growth, 2016-22

United States Middle East

China Australia

Russia Europe - 40

0

40

80

120

bcm

160

Since 2009, US shale has added the equivalent of two Qatars to the global balance; Middle East and China set to significantly expand production to 2022 Š OECD/IEA 2017

Global CO2 emissions flat for 3 years

Global energy-related CO2 emissions Gt 35 30 25 20

15 10 5 1970 1975 1980 1985 1990 1995 2000 2005 2010

2014 2015 2016

Global CO2 emissions remained flat in 2016 for the third year in a row, even though the global economy grew Š OECD/IEA 2017

Efficiency and renewables key to global climate change mitigation

Global CO2 emissions reductions in the Central & 2 °C Scenario by technology Gt 38

Central Scenario

34

Efficiency

30 Renewables

26

2 °C Scenario

22 18 2010

2020

2030

Fuel switching Nuclear CCS Other 2040

Supply-side investment needs to be re-directed, not increased; demand-side investment for energy efficiency, electrification & renewables needs to ramp up significantly . © OECD/IEA 2017

Turning to Greece From a global energy context to energy policy in Greece Š OECD/IEA 2017

Energy Sector Reform • Electricity: - Transmission operator fully unbundled from PPC - Wholesale and retail markets still dominated by PPC - Gradual introduction of EU target model starting in 2018

• Gas: - Retail sector opened to competition on 1 January 2018 - Transmission unbundling pending – need to expedite selling off 66% share of TSO - Rethinking DEPA’s role in the unbundled supply companies

• Energy Sector Regulator pursued timely implementation of legislation jointly with other stakeholders

© OECD/IEA 2017

Security of Supply • Greece compliant with IEA oil stock holding requirement since 2004

• National oil and gas emergency plan adopted since last in-depth review

• Gas emergency plan proved robust during the winter 2016/17 supply shortage, but: - vulnerability to disruptions of the LNG supply chain

- need to make electricity and gas sectors more price responsive - need to further strengthen regional interconnections and storage © OECD/IEA 2017

GDP and CO2 are decoupling, but slower compared to IEA average GDP, CO₂ emissions and carbon intensity in Greece and IEA29, 1990-2015 Index 2005 120 GDP (PPP) - IEA29

110

CO2 emissions - IEA29

100 90

GDP (PPP) - Greece

80

CO2 emissions - Greece

70 60 2005

Decoupling 2007

2009

2011

2013

2015

CO₂ emissions strongly related to GDP development – Greece needs to prepare for a recovering economy © OECD/IEA 2017

Electricity Sector moving towards decarbonization Electricity generation by fuel 80

TWh

Oil Coal

60

Natural gas Biofuels and waste

40

Hydro Solar

20

Wind 0 1973

Net imports 1976

1979

1982

1985

1988

1991

1994

1997

2000

2003

2006

2009

2012

2015

Greece managed to integrate high levels of renewables due to a diversified electricity capacity mix Š OECD/IEA 2017

Greece IDR: Key Recommendations • Energy Planning: Develop an integrated national energy and climate policy framework for 2030 and beyond • Sector Reform: Continue to prioritize implementation of gas and power sector reforms to further the creation of competitive and financially viable markets • Energy Efficiency: Continue to pursue the implementation of ambitious energy efficiency policies • Renewables: Leverage the renewable energy potential of the islands through interconnections with the mainland transmission system • Regulatory Capacity: Ensure regulators capacity to carry out reform and oversight and ensure sufficient resources © OECD/IEA 2017

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