The record ETS emissions reduction in Greece and the case of Crete

One of the tools that established the European Union as a pioneer in climate and environmental policy issues is the Emissions Trading System (ETS).

As a guest on SKAI Crete 92.1 FM (01/07/2024), data analyst Ioanna Souka explained to journalist Eleni Vakethianaki and her listeners exactly what the ETS is and how it has contributed to reducing CO2 emissions in Europe.

She also referred to the historical low carbon emissions from the ETS sectors in Greece and the European Union, as recorded in the Green Tank’s 2023 report.

The ETS is based on the principle that “the polluter pays” and has proven its effectiveness, with all EU-27 Member States having reduced their emissions in the two main sectors of electricity-heat and industry since 2005 (the year the ETS started).

Crete was a main point of conversation during the interview. The island gets part of its electricity from three locally based oil-fired power stations. As Ioanna Souka said, in general, oil plants have been stable in their emissions since 2005, while maintaining a small share of total emissions from power generation. In fact, in 2023 almost half of the emissions from oil power plants in Greece will come from the three plants in Crete.

Thus, interconnection with the mainland is important for the decarbonization of Crete and the reduction of other gases that harm the environment and human health (sulphur dioxide, nitrogen oxides etc). The interconnection will also free up additional space for renewables, which will not only help the phase-out from fossil fuels, but also self-production projects that are flourishing on the country’s largest island.

Finally, as far the recent energy crisis is concerned, it was made clear that this was mainly due to high fossil gas prices. Obviously, the cost of carbon emissions also weighs on electricity prices. According to The Green Tank’s data analyst, the progress of renewables and the fossil fuel phase-out must proceed at a rapid pace in order to find a solution to high energy prices.

You can listen to the radio show (in Greek) here.