Greece’s energy capacity warning system was lowered to Level 1 Alert yesterday after the grid’s operator determined that the natural gas reserves are now back up to a level sufficient to cover the country’s needs for a seven-day period.
The alert system had been raised to Level 2 last Wednesday, prompting the need for emergency action. RAE, the Regulatory Authority for Energy, and the energy ministry convened for emergency meetings and took action in order to ensure sufficient energy levels for the festive season. Additional LNG amounts were shipped in.
Natural gas-fueled power station operators volunteered to interrupt production at their facilities while IPTO, the power grid operator, activated the demand response mechanism, which enables major industrial enterprises to benefit from electricity cost savings in exchange for shifting energy usage to off-peak hours.
According to sources, the long-term demand response mechanism was activated for 48 hours, last Friday and Saturday, saving 550 MW, while the short-term mechanism was enforced for an hour on Friday afternoon, saving 650 MW.
The industrial sector’s cooperation proved pivotal in the effort to combat the energy emergency.