Industry’s relatively high energy cost officially addressed

Following a number of studies and reports indicating the higher relative cost of energy faced by Greece’s industrial sector, the government has, for the first time, officially acknowledged, in writing, the problem through a letter forwarded by Deputy Minister of Development Odysseas Konstantinopoulos to an interministerial committee for industry.

The deputy minister is an active participant in the committee that was established by Prime Minister Antonis Samaras to examine – through an organized and structured approach – problems faced by Greek industry with the objective of developing a strategic national plan for industrial policy.

In the letter, Konstantinopoulos noted that Greek industry faced considerably higher energy cost levels compared to fellow European industrial competitors. Eurostat figures on the issue do not reflect reality, he added. Industrial consumers in fellow EU members benefited from discounts, organized cost-reduction policies, as well as bilateral agreements leading to lower electricity costs and comparative advantages, the deputy minister asserted.

Konstantinopoulos noted that the necessity to support Greek industry through institutional intervention and action is of major national significance.

The deputy minister’s acknowledgment of the high energy cost for industry as a result of existing monopolies in the electricity and gas markets is an issue that, until now, had not been officially addressed by any other members of the coalition.