RAE, the Regulatory Authority for Energy, has begun work on regulatory framework concerning the installation, operation and pricing of energy storage stations at electricity transmission and distribution networks, whose initial draft it aims to have completed and delivered to the Greek government and European Commission authorities by the end of the year.

The authority has already assembled a team that is working intensively to meet this target, sources said.

The results of a related public consultation procedure, a National Technical University of Athens (NTUA) study on renewable energy sector growth in the years to come, as well as data emerging from equivalent efforts around Europe, are all being used by the RAE team for guidance.

The main question that needs to be resolved by RAE at this stage is whether additional framework concerning the financial support of energy storage units will be required. If so, details concerning the shape of this support mechanism, the level of earnings energy storage unit investors should expect, as well as the parties to be responsible for covering the resulting cost (i.e. consumers, electricity supply companies, RES producers) will need to determined.

The prospective installation of energy storage stations on non-interconnected islands and the mainland will be examined as separate cases by RAE.

As part of its National Energy and Climate Plan, Greece is aiming for renewable energy to have captured a share of at least 31 percent of overall energy consumption by 2030.