The Crete-Peloponnese electrical interconnection has offered savings exceeding 700 million euros to all consumers since 2021, according to the Independent Power Transmission Operator (IPTO).
The first interconnection of Crete with the continental system was electrified in July 2021 and has since largely replaced local electricity generation from thermal units that used diesel fuel as fuel, with relatively low efficiency levels, increased operating costs and higher emissions.
Economic benefit
As highlighted by IPTO, based on the cumulative benefit of 700 million euros so far, it follows that the Crete-Peloponnese electrical interconnection, the largest high-voltage submarine cable project with alternating current technology in the world, has been amortized almost twice in just 4.5 years.
The electrification of Crete from the continental system was also decisive in reducing the burden on the Special Public Utilities Account during the energy crisis of previous years. In particular, according to IPTO, the substitution of local diesel units saved at least 120 million euros for ELYKO, at a time when natural gas and crude oil prices had increased significantly, having driven electricity prices to unprecedented levels.
From the beginning of 2026, with the supply of Crete exclusively through the two interconnections – with Attica and the Peloponnese – and the assistance of local electricity generation from RES units, local conventional electricity generation will essentially be terminated, contributing for a minimal period of time during the year, namely on days with very high demand, according to IPTO.
As IPTO emphasized, the simultaneous operation of the two interconnections will multiply the economic benefit to 400-600 million euros annually until 2035, an amount that includes the estimated cost of 40-60 million euros for local units to remain in “cold standby” mode in order to cover any emergency needs. In any case, according to IPTO, the net benefit for consumers will exceed 400 million euros each year, even if the burdens incurred from the amortization of Crete’s interconnection projects through System Use Charges on electricity bills are taken into account.
Για να εμφανίζονται περισσότερα άρθρα της Ναυτεμπορικής στις αναζητήσεις σας εύκολα και γρήγορα, πρέπει να προσθέσετε το site στις προτιμώμενες πηγές σας. Μπορείτε να το κάνετε πηγαίνοντας εδώ.
