Greece plans €12 billion energy overhaul to lower costs
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The Greek government intends to invest €12 billion through 2029 to lower electricity prices for consumers. This plan includes upgrades to power grids and new interconnections, energy storage solutions like batteries, and programs promoting energy efficiency such as home renovations, heat pumps, and solar panels.
The government’s plan allocates approximately €6 billion to improve the electricity transmission system through projects managed by ADMIE, the independent power transmission operator.
Major projects include a €2.8 billion interconnection of the Dodecanese islands and a €1.4 billion interconnection of the Northern Aegean islands. In addition to grid improvements, another €6.2 billion will fund energy storage, efficiency programs, and social support measures. From January 1, 2027, the first tier of Public Benefit Charges (PPC) on electricity bills will decrease by 50% for all households consuming up to 500 kWh.
The government also plans to offer €200 million in subsidies for batteries in 2027 and 2028, combining them with renewable energy projects and self-consumption initiatives. The plan also prioritizes reducing energy consumption through programs like “Exoikonomo” which will provide €1.2 billion to upgrade 62,000 homes, and a €930 million program to replace heating systems with heat pumps and solar water heaters.
Finally, €1.856 billion from the Social Climate Fund will support vulnerable citizens through the construction of energy-efficient social housing, increased heating allowances, and programs for electric vehicles and mobility aids.
