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Energy in Greece
Energy in Greece is dominated by fossil gas and oil. Electricity generation is dominated by the one third state owned Public Power Corporation (known mostly by its acronym ΔΕΗ, or in English DEI). In 2009 DEI supplied for 85.6% of all electric energy demand in Greece, while the number fell to 77.3% in 2010. Almost half (48%) of DEI's power output in 2010 was generated using lignite. 12% of Greece's electricity comes from hydroelectric power plants and another 20% from natural gas. Between 2009 and 2010, independent companies' energy production increased by 56%, from 2,709 Gigawatt hour in 2009 to 4,232 GWh in 2010.
Since 2015, Greece has significantly expanded renewable energy, with renewables and hydropower rising from over 20% of electricity generation to around 50%. At the same time, reliance on lignite fell sharply from 60% in 2005 to about 10% in 2021. By this Greece is supporting its long term climate goals. Building on this progress, Greece now targets at least a 55% emissions reduction by 2030 and carbon neutrality by 2050. As of 2023, Greece has made a rapid increase in renewable energy reaching an historic high, with renewable electricity expected to reach up to 82% by 2030 under updated plans backed by major investment.
These policies are complemented by structural market reforms: the electricity market is fully liberalized with minimal entry barriers, and the regulatory framework now includes prioritized grid access for RES projects, “net‑billing” mechanisms, and support schemes for energy storage systems such as battery integration. Solar becomes increasingly competitive, with costs projected to halve by 2040. Baseload and offshore wind remain the most expensive sources on average and more stable over time. Onshore wind offers a balanced profile, with moderately lower costs than baseload and offshore wind. The widening gap between solar and other sources highlights its potential to dominate future energy price competitiveness.
Greece has 10 million barrels of proved oil reserves as of 1 January 2011. Hellenic Petroleum is the country's largest oil company, followed by Motor Oil Hellas. Greece's oil production stands at 7,946 barrels per day (bbl/d), ranked 90th, while it exports 1,863 bbl/d (57th) and imports 496,600 bbl/d (25th).
In 2011 the Greek government approved the start of oil exploration and drilling in three locations within Greece, with an estimated output of 250 to 300 million barrels over the next 15 to 20 years. The estimated output in Euros of the three deposits is €25 billion over a 15-year period, of which €13–€14 billion will enter state coffers. Greece's dispute with Turkey over the Aegean poses substantial obstacles to oil exploration in the Aegean Sea.
In addition to the above, Greece is also to start oil and gas exploration in other locations in the Ionian Sea as well as the Libyan Sea, within the Greek exclusive economic zone, south of Crete. The Ministry of the Environment, Energy and Climate Change announced that there was interest from various countries (including Norway and the United States) in exploration, and the first results regarding the amount of oil and gas in these locations are expected in the summer of 2012.
Gas pipelines include the Gas Interconnector Greece–Bulgaria and the Turkey–Greece pipeline which is a 296 kilometres (184 mi) long natural gas pipeline, which connects Turkish and Greek gas grids completed in 2007.
On 15 April 2026, it was reported that for the first time in 40 years Greece will conduct an exploratory drilling. The contract signed between ExxonMobil, Energean, and HELLENiQ Energy, and Greece’s Ministry of Environment and Energy, for drilling in Block 2 in the north-western Ionian Sea.
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Energy in Greece
Energy in Greece is dominated by fossil gas and oil. Electricity generation is dominated by the one third state owned Public Power Corporation (known mostly by its acronym ΔΕΗ, or in English DEI). In 2009 DEI supplied for 85.6% of all electric energy demand in Greece, while the number fell to 77.3% in 2010. Almost half (48%) of DEI's power output in 2010 was generated using lignite. 12% of Greece's electricity comes from hydroelectric power plants and another 20% from natural gas. Between 2009 and 2010, independent companies' energy production increased by 56%, from 2,709 Gigawatt hour in 2009 to 4,232 GWh in 2010.
Since 2015, Greece has significantly expanded renewable energy, with renewables and hydropower rising from over 20% of electricity generation to around 50%. At the same time, reliance on lignite fell sharply from 60% in 2005 to about 10% in 2021. By this Greece is supporting its long term climate goals. Building on this progress, Greece now targets at least a 55% emissions reduction by 2030 and carbon neutrality by 2050. As of 2023, Greece has made a rapid increase in renewable energy reaching an historic high, with renewable electricity expected to reach up to 82% by 2030 under updated plans backed by major investment.
These policies are complemented by structural market reforms: the electricity market is fully liberalized with minimal entry barriers, and the regulatory framework now includes prioritized grid access for RES projects, “net‑billing” mechanisms, and support schemes for energy storage systems such as battery integration. Solar becomes increasingly competitive, with costs projected to halve by 2040. Baseload and offshore wind remain the most expensive sources on average and more stable over time. Onshore wind offers a balanced profile, with moderately lower costs than baseload and offshore wind. The widening gap between solar and other sources highlights its potential to dominate future energy price competitiveness.
Greece has 10 million barrels of proved oil reserves as of 1 January 2011. Hellenic Petroleum is the country's largest oil company, followed by Motor Oil Hellas. Greece's oil production stands at 7,946 barrels per day (bbl/d), ranked 90th, while it exports 1,863 bbl/d (57th) and imports 496,600 bbl/d (25th).
In 2011 the Greek government approved the start of oil exploration and drilling in three locations within Greece, with an estimated output of 250 to 300 million barrels over the next 15 to 20 years. The estimated output in Euros of the three deposits is €25 billion over a 15-year period, of which €13–€14 billion will enter state coffers. Greece's dispute with Turkey over the Aegean poses substantial obstacles to oil exploration in the Aegean Sea.
In addition to the above, Greece is also to start oil and gas exploration in other locations in the Ionian Sea as well as the Libyan Sea, within the Greek exclusive economic zone, south of Crete. The Ministry of the Environment, Energy and Climate Change announced that there was interest from various countries (including Norway and the United States) in exploration, and the first results regarding the amount of oil and gas in these locations are expected in the summer of 2012.
Gas pipelines include the Gas Interconnector Greece–Bulgaria and the Turkey–Greece pipeline which is a 296 kilometres (184 mi) long natural gas pipeline, which connects Turkish and Greek gas grids completed in 2007.
On 15 April 2026, it was reported that for the first time in 40 years Greece will conduct an exploratory drilling. The contract signed between ExxonMobil, Energean, and HELLENiQ Energy, and Greece’s Ministry of Environment and Energy, for drilling in Block 2 in the north-western Ionian Sea.