Although development of the renewable energy sources (RES) sector is a crucial factor in Greece’s effort to converge with the EU target model, the basis for a single electricity market in Europe, the country is lagging far behind in RES installed capacity objectives set for all technologies, except photovoltaics, Giorgos Peristeris, president of the Greek Association of Renewable Energy Source Electricity Producers (ESIAPE), highlighted during his speech at a conference staged in Athens this week by IENE, the Institute of Energy for South-East Europe.

Peristeris refered to wind energy, the RES sector’s most promising technology, as an example, noting that a capacity of just 145 MW has been installed more recently.

The association’s chief expressed support for a RES model that is compatible with EU directives while also  ensuring the market’s sustainability.

Competition and an intraday market are essential, Persisteris said, while adding that RES output must be sold in the daily market at prices determined hourly. A transitional mechanism offering a market premium also needs to be implemented, the official explained, as this would facilitate the smooth entry of RES production into the market, protecting it from fluctuations.

The RES market’s new pricing mechanism needs to be applied to a truly liberalized market without distortions and nominal calculations if it is to succeed, Persiteris highlighted.

He refered to a recent study conducted by European regulators that showed procedures used to determine RES price levels are producing distorted results.