On 15 March 2024, the law no. 5095/2024 (OJ A’ 40/2024) (the “Law”) adopted, by virtue of article 30, the measures proposed by the Ministry of Environment and Energy (YPEN) aiming at the reduction of the energy cost in the agricultural and industrial sector.
Agricultural and industrial sector
Within the framework of the necessity for the reduction of the power cost incurred by the farmers, YPEN has announced a program providing low prices by means of PPAs[1]. It is estimated by YPEN that out of the 10-year duration of the said bilateral agreements, in the first two years the price will be formulated between €0.09 and €0.11 per kWh and in the rest eight years, the 1/3 of the consumption will be formulated at €0.09 per kWh, while regarding the 2/3 thereof, the farmers will be entitled to a free supply from the market, either by the same or a different supplier.
The same grounds regarding the necessity for the reduction of the energy cost applies also in the industrial sector. Another parameter taken into consideration is the fact that recently energy intensive industries in the USA as well as in different countries in the European Union have been supported by means of subsidies, a fact which renders vital the need for the encouragement of production of such Greek industries to be rendered competitive.
(Article by Mira Todorovic Symeonides, Partner, and Panagiota Maragkozoglou, Associate, published in Lexology on April 16, 2024)
The full article can be accessed on:
