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Pressures for the connection of Crete with National Grid

If the Independent Power Transmission Operator (IPTO), cannot proceed with the connections between the islands, the Regulatory Authority for Energy, (RAE), will allocate the contract elsewhere.

This was the message sent out by the President of the of the RAE, Nikos Boulaxis, speaking yesterday to the Special Permanent Committee on Institutions and Transparency, in the Greek Parliament, referring indirectly to the delay that has been seen from the IPTO in implementing the underwater, electrical cable connections.

The delay has meant that consumers are paying dearly annually, for public utilities, with surcharges of between 600 to 800 million euros, being enforced, in order for the islands to have the same price for the electricity they consume, as with those on the mainland.

For Crete alone, the surcharge is estimated to amount to around 250-350 million euros, which is the cost of the purchase of oil to fuel power stations. The cost of the installation of the submarine cable, is deemed to be 1-1,5 billion euros, which could be covered and paid back, in the equivalent of 3 to 4 years, of the cost of remaining as is, but also most importantly, providing the opening for large investments in wind parks.