The energy ministry is considering an even swifter course towards full decarbonization in Greece by 2028, an objective recently declared by Prime Minister Kyriakos Mitsotakis, despite feasibility and energy security concerns prompted by this announcement.

Ministry officials currently shaping the country’s new National Energy and Climate Plan, as well as power utility PPC’s road forward, are working on an even more ambitious procedure concerning the gradual withdrawal of coal generators towards 2028, sources informed.

The plan being looked at entails withdrawing virtually all of the country’s lignite-fired units by 2023 and maintaining just two such generators until 2028, Agios Dimitrios V, a 375-MW facility, and Ptolemaida V, still under construction and planned to offer 660 MW.

A swifter decarbonization procedure would reduce state-controlled PPC’s lignite-related losses over the coming years, when rising CO2 emission right costs are expecting to escalate further, and sharply, energy ministry officials believe.

Last year, PPC’s coal generators incurred losses totaling 200 million euros as a result of higher CO2 emission right costs. Even higher losses are expected this year.