The government has decided to slow down its energy-transition drive through revisions that will set more realistic objectives and more conservative policies, in accordance with the country’s fiscal margins and the public’s ability to cope.

An investment plan worth 192 billion euros, the equivalent of Greece’s GDP, that had made up the National Energy and Climate Plan forwarded to the European Commission in December will now be greatly toned down.

It will essentially be replaced by a new and far more reserved NECP of more accurate projections, as well as changes to all energy-transition technologies, except for renewables, which have already achieved 2030 targets as of last year.

Energy minister Thodoris Skylakakis offered an indication of changes in the making at an event yesterday staged by CRES, the Center for Renewable Energy Sources and Savings, locally acronymed KAPE.

CRES/KAPE will be involved in the preparation of the revised NECP, planned to be delivered to the European Commission by June.

If the current NECP’s targets were left unchanged for electromobility, energy savings at buildings, subsidies promoting the replacement of old household appliances with new systems, hydrogen projects, and other technologies, then the Greek economy would grow at an average rate of just 0.6 percent until 2050, officials pointed out at yesterday’s CRES/KAPE event.