RAE, the Regulatory Authority for Energy, backed by environment and energy ministry, is working on delivering a long-term energy plan for Greece by the end of this year.

The plan will include initiatives to help Greece reach climate change targets the country agreed to, for 2030, at the COP21 climate conference in Paris late in 2015, and also detail energy market revisions, including pricing issues.

The European Commission’s recent winter package, announced in November, requires all EU member states to prepare national energy and climate plans, based on 2030 targets, within 2017.

RAE has assumed the task of preparing a plan based on new conditions and needs. It will provide  proposals for revisions to the country’s energy portfolio, detailing necessary investments and infrastructrure, all in line with EU directives.

Besides ensuring a gradual expansion of the renewable energy sector, the RAE plan will also aim to achieve a balanced mix of energy-generating technologies, improve energy efficiency, and further diversify conventional energy sources through the development of new pipelines, refineries, natural gas and oil storage facilities, electicity network interconnection projects, and smart meters capable of handling renewable energy output fluctuations.

The RAE plan will also provide prerequisites needed for the establishment of a modern energy market for electricity and gas. Its framework will include features such as a secondary market.

Lessons learnt from the energy supply crisis last winter will help shape the long-term energy plan.