IENE’s major study project, the "SE Europe
Energy Outlook 2016/17”, was presented on June 7, 2017, at the Athens Exchange.
This special event, jointly organized by the Institute of Energy for SE Europe
(IENE) and the Athens Exchange Group, gathered together IENE members and eminent
professionals from Greece’s energy, banking and financial sector, as well as
representatives of major companies form the industrial and services sectors.
The event began with opening remarks by the CEO
of Athens Exchange Group, Mr.
Socratis Lazaridis, followed by Mr. John
Chadjivassiliadis, Chairman of ΙΕΝΕ. The IENE Outlook study was presented by
three of its contributors and members of the IENE team. Mr. Costis Stambolis,
Executive Director of ΙΕΝΕ, described thoroughly the trends and latest developments
in the energy sector in SE Europe, the energy security situation, the
discrepancies between EU and regional energy policies perspectives, as well as
the investment prospects of the next decade. Mr. Dimitris Mezartasoglou,
Resident Research Associate of ΙΕΝΕ, referred to latest electricity market
developments at the existing and planned power exchanges of SE Europe, and also
analyzed the parameters for setting up a regional gas hub, whereas Mr. Nicholas
Sofianos, Head of Research of the Institute, presented
the overall activities and trends in RES in SE Europe and the path towards decarbonization.
The speakers stressed that the SEEEO 2016/2017
study provides a thorough and comprehensive insight of the region’s energy
sector and contains a huge amount of data including energy demand and supply
projections and investment estimates until 2025 for a whole range of energy
applications. According to IENE’s latest study, the total estimated investment
potential in the region amounts to €267 billion, in the forthcoming decade, in
the base scenario and €321 billion in an optimistic scenario.
Commenting on EU and SEE energy policies,
IENE’s study observes that there is "painful realization of the
conflicting points of view between EU energy planners and SEE countries’
priorities when it comes to the development of indigenous energy sources. The
hierarchy agreed and followed by the countries at national energy policy level
is strictly determined by economic considerations and gives credence to solid
fuels, in spite of GHG commitments and the overall EU Climate Change policy
direction”.
Oil and coal still appear as a mainstay of the
regional energy mix, whereas natural gas is becoming increasingly important to
the energy mix, mainly used as a balancing fuel by several SEE countries, both
for power generation and domestic use.
For renewable energy sources to achieve greater
penetration in the SEE energy mix and thus facilitate the region’s
decarbonisation, the IENE study says that strong policy measures are needed to
be backed by EU guaranteed financing, adding that, despite national and
regional regulatory and legislative initiatives, energy efficiency in SE Europe
is not being given enough priority or attention. SEEEO 2016/2017 also stresses
that electricity market liberalization in the region has shown significant
progress, contrary to natural gas markets that remain largely regulated.
Prof. Pantelis Capros, Chairman of IENE’s
Scientific Council and Director Ε3Μ Lab, National Technical University of
Athens (NTUA), in his in-depth intervention, analyzed the various aspects of
the overall energy demand and supply equilibrium in SE Europe, as well as the
ongoing procedure of incorporating the environmental European "acquis” in the countries of the region. It must be
noted that Ε3Μ Lab of NTUA and IENE closely co-operated in the preparation of
the energy scenarios of the SEEEO 2016/2017 study.
Finally, Mr. Aristidis Tasoulis (Executive
Director of Regulatory European Affairs of the Electricity Market Operator,
LAGHE) and Mr. Andreas Daskalakis (Director of Market Operations & Member
Support Division, Athens Exchange Group) provided detailed information concerning
the reshaping of Greece’s energy market, while they also stressed that this
effort is a fundamental precondition for Greece to play a substantial role in
this field at regional level. Furthermore, they provided details on the
planning for the Energy Market to be launched next year by the Athens Exchange.
Funding for this major IENE Study came from a
group of sponsors which included the following companies: Hellenic Petroleum
(HELPE), Public Power Corporation (PPC), Public Gas Corporation (DEPA), while
supporters included: Terna Energy, LAGIE (The Electricity Market Operator),
ADMIE (The Electricity Transmission Operator), EnSCo, Energean Oil & Gas, the Athens Exchange Group and KG Law Firm.