The reduced cost of public utilities due to the progress in the interconnection of the islands to the main grid offsets the additional burden on consumers from the higher charges for the transmission system, that kick in this year in order to finance the Independent Power Transmission Operator’s (IPTO) investments, the operator’s management said in an announcement on IPTO’s 2020 annual report, according to ANA.
The benefit from the Crete-Peloponnese interconnection that will operate this year is already estimated at 150 million euros, which is added to 70 million from the Cyclades interconnection. Once the “big” Crete-Attica interconnection is concluded in 2023, the benefit will rise to 400 million per year.
For the 4th phase of the interconnection of the Cyclades, which includes Santorini, due to be completed in 2023, the selection of contractors is expected before the summer. This will be followed by the announcement of tenders for Folegandros, Milos and Serifos with the prospect of completion in 2024.
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