Climate & Energy

Emissions from electricity production reached a 12-month low in April 2026 (0.93 million tons) due to reduced use of fossil fuels, particularly oil (0.1 million tons). The average annual carbon intensity reached a new all-time low (233.4 g CO2/kWh). However, for the first four months, emissions totaled 4.9 million tons, with fossil gas accounting for 56.1%. Without RES curtailments during this period (885 GWh), carbon emissions would have been 12% lower.

The cement industry is one of the most carbon-intensive industrial sectors globally. Yet its decarbonization is accompanied by significant technical and economic challenges. With the window for achieving the EU’s binding 2030 climate targets rapidly narrowing and the gradual phase-out of free allowances under the EU Emissions Trading System (EU ETS) affecting the sector’s competitiveness, closing the investment gap for decarbonization projects has become an urgent priority.

For the 4th consecutive month, renewables led the way in electricity production with 2,107 GWh, despite the high level of curtailments recorded in April (475 GWh). The first 7 batteries connected to the grid reduced RES curtailments by just 0.72% and gas-fired power generation by just 0.26%. High RES, combined with low levels of fossil gas and lignite (1,340 GWh and 197 GWh, respectively), led to a drop in the average wholesale price (89 €/MWh, -6.6%). However, over the 4-month period, fossil gas (7,329 GWh) was just 1.2% below last year’s record levels, while net exports reached a high of

At the international conference “The Evolving Climate and Energy Landscape in Greece”, organized by the Columbia Climate School, the University of Western Macedonia and the Columbia Global Center Athens, with the support of PPC and the John S. Latsis Public Benefit Foundation, on May 25–26, 2026 in Athens, Nikos Mantzaris, Lead Policy Analyst and co-founder of The Green Tank, participated in the session “Policy Perspectives on the Energy Transition” alongside representatives from academia, research institutions, and the energy sector.

Nikos Mantzaris, Lead Policy Analyst and co-founder of The Green Tank, spoke on Giorgos Psalti’s news radio show on SKAI 100.3 about the findings of The Green Tank’s latest analysis on trends in Greece’s retail electricity market.

Following the Deputy Minister of Environment and Energy, Nikos Tsafos’ public comments, The Green Tank would like to present the data and methodology on which its conclusions are based. The response below clarifies the data used and explains why the increased reliance on fossil gas remains a critical issue both for emissions and for the cost of electricity paid by consumers.

In 2025, Greece had the highest retail electricity prices in the EU-27 in terms of consumers’ purchasing power and the third highest in nominal prices. At the same time, the more expensive green tariffs continued to dominate the market despite their high cost, while increased fossil gas use kept both wholesale and retail electricity prices at elevated levels.

In an article on energypress.gr titled “Lignite is leaving, but the questions remain,” Nikos Mantzaris reflects on the permanent shutdown of the Agios Dimitrios Power Plant, the largest lignite-fired plant in Greece and one of the largest in the Balkans, after 42 years of operation.

Emissions from the four sectors covered by the EU Emissions Trading System (EU ETS) in the EU-27 remained largely unchanged in 2025 (-1.7%). At the same time, lignite and hard coal continued to account for 46% of emissions in the power and heat sector. In Greece, emissions from this sector increased due to higher fossil gas use, while the country recorded the highest maritime emissions in the EU. By contrast, the carbon footprint of the Greek cement industry fell by 9.2%, and that of refineries by 4.6%.

Domestic gas consumption in April (4.4 TWh) hit a 7-month low due to declines in all three sectors. Cumulatively for the first four months of 2026, total consumption remained at the same level as in 2025 (24.8 TWh), while consumption in networks reached a 4-year high (6.7 TWh). The primary source of imports for the 4-month period was LNG via Revythousa (17 TWh), despite a decline in April and the shutdown for maintenance of the Alexandroupolis FSRU. Exports saw a sharp decline in April (0.6 TWh). Compared to the other EU-27 member states for the first quarter of 2026, Greece

Emissions from electricity production rose in March 2026 to 1.28 million tons (+17% compared to February), with the carbon intensity standing at 222 g CO2/kWh (+10.6%) due to increased use of all three fossil fuels. For the first quarter of 2026, cumulative emissions were 3.96 million tons, down compared to 2025 (-24.7%) but higher than those of 2023 and 2024. There was a significant drop in emissions from oil (-44.7%) due to reduced production at thermal power plants in Crete.

In an article published on energygame.gr, Stavros Gennitsaris, Industrial Policy Associate at The Green Tank, highlights the potential of Green Public Procurement (GPP) as a lever for decarbonizing the cement industry.

In the first quarter of 2026, net exports (3.4 TWh) exceeded total exports for 2025 (3 TWh), thanks to high generation from renewables (5.9 TWh) and large hydro (2.5 TWh). However, gas and lignite saw an increase in March compared to February (+19.9% and +12.9%, respectively), resulting in higher average price on the wholesale market (€95/MWh, +21.3%). RES curtailments for the quarter totaled 410 GWh, double last year’s figure, while hours with zero or negative prices reached 240 (11% of the total hours for the quarter).

As part of Fortune Greece’s Earth Day 2026 special, Nikos Mantzaris, senior policy analyst & co-founder of The Green Tank, highlights that the environmental crisis is still reversible—but the window for action is rapidly closing.