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3 clusters · 9 sources · 30 days · First seen about 2 months ago · Last updated 22 days ago

Greek energy infrastructure investment dispute

Overview

A political dispute has emerged in Greece regarding the management and investment levels of the Hellenic Electricity Distribution Network Operator (HEDNO). Former Prime Minister Alexis Tsipras questioned the direction of the operator’s increased revenues and the sufficiency of its investments.

In response, Minister of State Akis Skertsos dismissed these claims as “lies or inaccuracies,” accusing Tsipras of being “incorrigible.” Skertsos asserted that energy infrastructure investments in Greece have increased to 5.9% of GDP, while decreasing by 2% in comparison countries. He stated that annual investments have quadrupled since 2019, exceeding €1.5 billion, and noted that the rate of undergrounding power lines has increased eightfold.

Supporting data from HEDNO officials indicates that since 2020, approximately 2.8 billion euros have been invested to modernize the electrical grid. Annual investments rose by 430% compared to 2019 levels, reaching roughly 800 million euros, to address an investment gap from the 2015–2019 period. A key component of this modernization is the undergrounding of power lines, which has increased from 200–250 km per year in 2019 to between 1,700 and 1,800 km annually, with the net expansion of the underground network exceeding 4,500 km over the last three years.

As part of these ongoing modernization efforts, HEDNO announced a 33.4 million euro project to underground electrical networks in the Municipality of Kifissia. The three-year initiative, funded by the Ministry of National Economy and Finance and HEDNO, will target the municipal units of Kifissia, Nea Erythraia, and Ekali to replace existing overhead Medium Voltage networks.

Entities

HEDNO · European Regional Development Fund · Ministry of National Economy and Finance · Municipality of Kifissia · Akis Skertsos

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] Annual investments by HEDNO have increased by 430% compared to 2019 levels.
[● 3 SOURCES] HEDNO has invested approximately 2.8 billion euros in network upgrading and transformation since 2020.
[● 3 SOURCES] Annual cable undergrounding has increased from 200–250 km in 2019 to 1,700–1,800 km currently.
[● 3 SOURCES] An investment gap of approximately 1.7 billion euros was created between 2015 and 2019.
[● 3 SOURCES] Required annual revenue for HEDNO has increased by 60% to 1.1 billion euros.
[● 2 SOURCES] HEDNO is implementing an extensive project to underground electrical networks in the Municipality of Kifissia. www.energymag.gr · www.paron.gr
[● 2 SOURCES] The project has a total budget of 33.4 million euros. www.energymag.gr · www.paron.gr
[● 2 SOURCES] The Ministry of National Economy and Finance is providing 19.7 million euros in funding via the Environment and Climate Change Program. www.energymag.gr · www.paron.gr
[● 2 SOURCES] HEDNO is covering the remaining 13.7 million euros from its own resources. www.energymag.gr · www.paron.gr
[● 2 SOURCES] The project will be implemented in the municipal units of Kifissia, Nea Erythraia, and Ekali. www.energymag.gr · www.paron.gr
[○ 1 SOURCE] The project is expected to be completed within three years. www.paron.gr
[○ 1 SOURCE] The project includes approximately 124 kilometers of new underground Medium Voltage network. www.paron.gr

Timeline

22 days ago

[BUSINESS] 2 sources
HEDNO to underground electrical networks in Kifissia
HEDNO is launching a 33.4 million euro project to underground electrical networks in Kifissia, Greece, to modernize the grid and improve urban aesthetics over the next three years.
about 2 months ago

[BUSINESS] 5 sources
HEDNO increases annual energy network investments by 430%
HEDNO reports a 430% increase in annual investments, totaling 2.8 billion euros since 2020, to modernize Greece's electrical grid and significantly accelerate cable undergrounding.
about 2 months ago

[POLITICS] 2 sources
Akis Skertsos disputes Alexis Tsipras over HEDNO investments
Greek Minister Akis Skertsos refuted Alexis Tsipras's claims about HEDNO revenues, stating network investments have quadrupled to over €1.5 billion annually since 2019.

Sources

athensmagazine.gr · capital.gr · energymag.gr · iefimerida.gr · insider.gr · mononews.gr · noticiasdealava.com · sbctv.gr · sofokleousin.gr

This summary has been updated 1 time: see revision history