Greece has made significant progress in reforming its electricity and gas markets in recent years but it must step up efforts to boost competition and its use of wind and solar power generation, the International Energy Agency said on Thursday, according to the following Reuters report:
Greece, which has signed up to three international bailouts since 2010 and has been reliant on domestic coal and oil and gas imports to cover its energy needs, has been looking to open up its electricity and gas markets to help strengthen its economy.
Limiting the dominance of state-controlled utility Public Power Corp. (PPC) and selling a 66 percent stake in gas grid operator DESFA are two key requirements of its latest bailout.
“The country moved forward on plans to restructure state-owned companies and liberalize electricity and gas markets, an impressive program that will lead to more competitive and financially viable energy markets,” the IEA pointed out in its latest report released on Thursday.
It also praised Greek efforts to boost energy security via investments in gas and electricity infrastructure.
Source: Reuters
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