Electrical grid

The Independent Power Transmission Operator (ADMIE) signed an agreement for the sale of a 20% stake in its subsidiary Ariadne Interconnection to State Grid International Development (SGID) of China on Thursday.

Ariadne Interconnection is the implementation agent for the linking of the Crete and Attica power grids.

The reduced-rate off-peak electricity tariff is to switch to a winter schedule as of Friday, the Hellenic Electricity Distribution Network Operator (DEDDIE) announced on Thursday.

One binding offer was submitted for the acquisition of 20% of the Independent Power Transmission Operator's (ADMIE) subsidiary company Ariadne Interconnection, operator of the Attica-Crete electrical interconnection.

The bid was submitted by State Grid International Development Belgium Ltd, a subsidiary of the Chinese State Grid, which already holds 24% of ADMIE shares.

The future of an electricity cable linking the power grids of Greece, Cyprus and Israel will be cleared up next month when a ruling is expected on whether Cypriot consumers would pick up the tab for the cable's four-year construction costs, Cyprus' Energy minister said on Thursday.

The European electricity industry on Wednesday sent a call to policy makers from Athens, both nationally and at European level, to ensure investments in the networks to be able to meet the goals of the energy transition.

The European electricity industry is expected to send a warning on Wednesday from Athens to the European Union ahead of the June 9 European elections that "keeping the lights on can no longer be taken for granted."

Cutbacks in the generation of power from renewable energy sources exceeded all precedent over the Easter holidays, aimed to maintain system stability due to falling demand and high RES output.

The most difficult day was Easter Sunday, specifically around midday, when RES production peaked due to the high output of photovoltaics.

The electrical interconnection of the Great Sea Interconnector between the Greek, Cypriot and Israeli power grids is the only way to sustainably develop renewable energy sources and achieve the high European goals while ensuring prices much lower than the current levels.

Grid losses and power thefts in 2021 and 2022 have been ascertained by Greek power grid operator DEDDIE to amount to 500 million euros. The bill was sent to providers, which in turn are passing it on to consumers.

Therefore, while wholesale electricity prices are going down, consumers will see no benefit in April nor the next few months.

The Energy Ministry is preparing emergency measures to shield the grid and avoid blackout phenomena, as it has been found that transient events such as a lightning strike or smoke from a fire could even lead to a general blackout.