The need for a realistic energy strategy, based on the demand and export potential created by the new interconnections, was underlined by the President and CEO of IPTO, Manos Manousakis, speaking at the 7th Renewable & Storage Forum.
Mr. Manousakis pointed out that the Operator's medium-term planning is based on the expansion of the electricity space and future demand, both in the domestic market and through international interconnections. At the same time, he stressed that the main issue remains the balance between energy supply and demand.
Excess demand for RES connection – 33 GW in terms of connection
Referring to the Renewable Energy Sources (RES) projects, he said that the projects that have connection terms reach 33 GW, while the total applications amount to 50 GW. "A pragmatic approach is needed for the next steps of green penetration," he noted.
IPTO, as he said, has submitted proposals for flexible connection terms, while investments in energy storage systems will contribute to the stability of the system and the reduction of production cuts.
Regulatory adjustments and system stability
Regarding the Cumulative Representation Bodies, he said that there is a convergence of views on additional technical measures that will enhance the stability of the network. However, he underlined the need to accelerate regulatory and legislative changes.
At the same time, he acknowledged that the development of electricity networks is meeting with reactions from local communities, underlining the need for information, dialogue and social consensus. "The green transition requires networks," he said.
Great Sea Interconnector – Positive steps, but pending issues
Regarding the Great Sea Interconnector project, Mr. Manousakis stressed Greece's commitment to the continuation of the project, mentioning two positive developments:
- Commitment of the Cypriot side to promote the concession agreement to its subsidiary IPTO, which will ensure the coverage of operating costs and will pave the way for the participation of the Republic of Cyprus in the shareholder scheme.
- Positive stance of CERA for the approval of the projected revenue, reducing the regulatory risk of the project.
However, the decision on tariffs remains pending, in order to release the first €25 million, as provided for in the interstate agreement between Greece and Cyprus.
The head of IPTO estimated that the enhanced involvement of the European Commission in the negotiations will have a positive and constructive role, as the EU has committed the largest amount of funds in its history for a cross-border energy project.
