‘Virtual net metering law for businesses by Christmas’

Legislative action to utilize technology enabling virtual net metering through solar energy installations for medium and high-voltage voltage consumers have been announced by energy minister Kostas Skrekas.

The minister said legislation for medium and high-voltage voltage virtual net metering would be ratified by Christmas to enable enterprises to use self-produced electricity generated by off-site PV systems.

The minister, who was speaking at the Professional Chamber of Athens (EEA), addressed the energy crisis and responded to related questions by members on government intervention and actions.

Skrekas told the chamber’s members that energy sufficiency has been secured through government measures but stressed energy waste will need to be restricted.

Recent data showed an electricity consumption reduction of 13 percent in early September and a 40 percent drop in demand for natural gas over the past three months, the minister noted.

EDEY studying Norwegian upstream diversification

EDEY, the Greek Hydrocarbon Management Company, is exploring, with the expertise and support of Norwegian scientists, the prospect of incorporating carbon capture and storage (CCS) and offshore wind farms into its range of activities, taking Norway as an example.

The effort is being conducted with financial support from the European Economic Area (EEA) grants mechanism, established by Norway, Iceland and Liechtenstein with the aim, amongst other matters, of strengthening bilateral ties with 15 European countries, including Greece.

Norway, which has accumulated years of expertise through hydrocarbon extraction, has successfully combined its upstream sector with new energy fields such as CCS and offshore wind farms.

According to EDEY chief executive Aristofanis Stefatos, the objective is to make note of the most positive aspects of these Norwegian synergies to help Greece develop important projects needed for the energy transition, without excluding exploration of natural gas deposits in Greek seas should market conditions become appropriate.

The EDEY study with Norwegian experts, titled “Review of the Transformation of the Norwegian Oil and Gas Industry during the Energy Transition and its application in Greece”, began last April and has been included in the EEA Grants program covering 2014 to 2021.