Nikos Mantzaris, Policy Analyst and co-founder at The Green Tank, was featured on Naftemporiki TV’s Index programme, hosted by Christina Kousouni and Michalis Mastorakis, in an in-depth discussion on high electricity prices and Greece’s energy policy choices.
Referring to The Green Tank’s study “What is causing high electricity prices?”, Nikos Mantzaris explained that lower wholesale electricity prices are closely linked to a high share of renewable energy and reduced reliance on fossil fuels, particularly fossil gas.
A telling example is Portugal — a country comparable to Greece — which has recorded 36% lower average wholesale electricity prices in recent years, thanks to its lower dependence on gas and its significantly greater energy storage capacity through pumped hydro.
Nikos Mantzaris highlighted the importance of implementing policies that shift electricity demand to lower-price hours, in order to make better use of low-cost renewable generation. Despite the fact that around one million smart meters have already been installed, “orange” tariffs are still absent from the Greek market, while consumers largely remain locked into green tariffs due to a lack of adequate information.
He underlined the critical role of the Regulatory Authority for Energy, Waste and Water (RAAEY) and the Ministry of Environment and Energy in delivering a coordinated consumer information campaign, without which “the market cannot function properly”.
He stressed that without transparency, energy storage and active citizen participation, electricity prices cannot be reduced.
At the same time, he emphasised the need to strengthen transparency and oversight of the wholesale electricity market, recalling the recent ACER report and the investigations into potential anti-competitive practices being carried out by RAAEY and the Hellenic Competition Commission.
Referring to the European grids package, he noted that while it represents an important step forward, it is not a stand-alone solution to high electricity prices, nor does it justify prioritising new fossil gas capacity at the expense of energy storage.
Watch the full interview [in Greek] here.
