Most of Greece’s energy supply firms have exceeded Energy Efficiency Obligation (EEO) targets for 2017, shaped by an EU Energy Efficiency Directive, and, as a result, appear to have swept aside any dangers of receiving any fines.

The EEO includes measures obligating energy enterprises to take initiatives contributing to energy efficiency in the household and industrial sectors as well as for passenger vehicles and trucks.

The obligations are divided into awareness raising actions concerning consumer use of energy as well as technical initiatives, such as insulation work and environmental upgrades of houses.

According to the EEO targets, Greece needs to save 3,332.7 ktoe (kiloton of oil equivalent) in energy by 2020, while an initial annual target of 100 ktoe has been set.

Figures released this week showed that the country’s energy firms saved a total of 177 ktoe, well over the initial target of 100 ktoe.

Major energy suppliers such as the main power utility PPC, Protergia, EKO and Coral all exceeded annual targets. PPC exceeded its 31.76 ktoe target to register 60.334, a 28.574 ktoe surplus. Protergia registered savings of 20.473 ktoe, 20.003 kteo over its 0.47 ktoe target.

Just five of the country’s 29 energy firms, among them Kaoil, Rodogaz and Phoenix, failed to reach targets. The aforementioned three all registered zero savings to miss their respective targets of 0.92 ktoe, 0.16 ktoe and 0.04 ktoe.