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May 20, 2025
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Alarming rise in unpaid bills from electricity consumers in Greece

A steep rise in arrears was recorded last year in the Greek electricity supply market.

According to the latest report from the Regulatory Authority for Energy, Waste and Water (RAAEY or RAEWW), total debt for electricity rose by EUR 1 billion to EUR 3.4 billion in 2024.

It occurred despite a 10% reduction in retail electricity prices last year in the country.

Out of the total sum, existing customers owe EUR 1.74 billion to their suppliers. Another EUR 1.65 billion is debt by customers that have switched suppliers, leaving unpaid bills behind.

As for the EUR 1 billion of new debt, consumers in the mid-voltage account for EUR 400 million. They are large businesses and small industries. Another EUR 440 million is owed by various water utilities.

In December 2024, the Ministry of Environment and Energy passed a regulation subsidizing water utilities for EUR 200 million of their total debt. It means actual arrears in the segment were smaller, at EUR 240 million, but still sizeable.

Measures to reduce power theft

On top of increasing debt, the Greek market is also faced with a rise in electricity theft. In recent years, the phenomenon has worsened and is estimated to cost law-abiding consumers EUR 400 million per year.

The government and the regulator recently enacted strict fines to reduce theft. Offenders pay more than 100% over the normal power price for stolen quantities. The gradual installation of smart meters starting this year is also expected to help.

Suppliers warn of consequences

Power utilities must handle all the said liabilities. The Greek Energy Suppliers Association (ESPEN) has said that the issues indirectly increase power prices, as companies need to balance their budget through additional hedging and careful positioning.

ESPEN: Suffocating pressure as a result of high arrears

“The accumulation of large arrears causes suffocating pressure to the supply sector, raising prices and leading to negative effects for consumers,” it said.

Furthermore, suppliers asked the Hellenic Electricity Distribution Network Operator (HEDNO or DEDDIE) to waste no time in disconnecting consumers who owe money, in line with guidelines from the network code.

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May 20, 2025
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Alteo’s Chikán: Aggregators have AI solutions for grid stability, production optimization (video)

Factors like power price volatility, the global shift in policy making and the need for flexible solutions for the integration of renewables are creating an important momentum for developers and aggregators, Chief Executive Officer of Alteo, Attila Chikán, said at Belgrade Energy Forum 2025. The company is expanding in Central and Southeastern Europe with investments in power plants and its AI-backed platform for operating third-party assets.

The electricity system needs to become more and more flexible to accommodate weather-dependent, intermittent sources – solar, wind and hydropower, Alteo’s CEO and Chairman of the Board Attila Chikán said and pointed out that the outage in Spain and Portugal on April 28 highlighted the need for investing in grid stability and upgrades.

In his keynote speech at Belgrade Energy Forum (BEF 2025), he stressed that a global shift in policy making in the sector, particularly in the United States and Europe, is bringing both challenges and opportunities. In Chikán’s view, the situation creates an important momentum for developers and aggregators.

“In the past five years we have seen a great deal of price volatility on the markets in the region. If you look into the future, taking into account the impact of the ambitious plans of regional countries to expand renewable power, one might expect even more pressure on balancing price volatility,” he asserted.

Role of international initiatives

Alteo’s CEO said tailored incentive mechanisms are essential for developing a balanced energy mix. There are also major endeavors on an international scale, Chikán added: connecting markets with diverse geographical characteristics, power plant portfolios and different supply-demand balances.

He explained that cross-border initiatives such as PICASSO and the Blue Sky project bring electricity exchanges in the region closer together. Interconnectors like the Pannonian Corridor and the proposed Black Sea green cable contribute to balancing and the management of energy price volatility, Chikán noted.

Future-proof tech solutions required for risk mitigation

In risk mitigation, the energy system’s stability benefits from future-proof technological solutions as well, namely smart metering, advanced weather forecasting and artificial intelligence–based production optimization, he said. This is where aggregator companies like Alteo come into the picture, its chief underscored.

As for its hardware, the company based in Budapest operates a diverse and balanced production portfolio of gas power plants and renewables, combined with storage, Chikán added.

Alteo runs a portfolio of gas power plants, renewables and storage facilities

“Sounds good, but without a well-designed and functional software, any hardware is purely a collection of materials. And even if they do operate, for sure they operate in a suboptimal way, without synchronization,” he stated.

That’s why Alteo developed its own production management platform, which it offers as a software-as-a-service (SaaS) solution as well. The company also supports the operation of 2 GW in third-party capacity, mostly photovoltaics.

“We optimize production in an automated way, using artificial intelligence, integrating real-time weather forecast data, capacity data and market data,” Chikán stressed.

The platform includes executing trading activities. The partners don’t have to deal with scheduling and the balancing energy costs, he said. The company makes a renewable electricity product closer to baseload, Alteo’s head asserted.

Slovakia, Croatia, Serbia are primary investment destinations in Alteo’s regional expansion

Early this year, the company unveiled a strategy for expansion in Hungary as well as into Slovakia, Croatia and Serbia as primary investment destinations. Alteo revealed it is interested in Poland, Czechia, Slovenia, Bosnia and Herzegovina, Montenegro and North Macedonia, too.

Chikán said it also aims to position itself in operations and maintenance (O&M), among other segments. Alteo is particularly seeking stable and reliable AI-based aggregator partnerships, he noted. The company has an investment target of up to EUR 3.5 billion by the end of the decade.

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May 20, 2025
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Akuo Energy signs PPA with EPS for Bela Anta 2 wind project in Serbia

French renewable energy company Akuo Energy has signed a power purchase agreement (PPA) with Serbia’s state-owned power utility Elektroprivreda Srbije (EPS) for the Bela Anta 2 wind power project, for the full capacity and including the balancing responsibility.

The project is being developed through Matrix Power, a special purpose vehicle (SPV) fully owned by Akuo Energy. With a total installed capacity of 80 MW, Bela Anta 2 was among the awarded projects in Serbia’s second round of renewable energy auctions, held in early 2025. Akuo secured a contract for difference (CfD), positioning it with the largest wind projects contracted with EPS to date, under the new market-based support scheme.

Milestone for Serbia’s energy transition

The agreement marks a major step in Serbia’s ongoing shift toward renewable energy, Akuo Energy said. All electricity produced by Bela Anta 2 will be supplied to the domestic market, supporting energy security and sustainability, it added.

“Akuo Energy is honored to support Serbia’s renewable energy goals in partnership with EPS. This PPA reflects strong institutional support and our shared commitment to accelerating the country’s green transition,” said a company spokesperson. The CfD ensures price stability and investment certainty, creating long-term benefits for both investors and the Serbian power system, Akuo Energy pointed out.

Akuo Energy: Global expertise with regional depth

Akuo Energy is an independent global renewable (wind, solar and storage) energy producer and developer. The group is present across the entire value: development, financing, construction and operation.

All electricity produced by Bela Anta 2 will be supplied to the domestic market

As of the end of 2024, the company had a total capacity of 1.9 GW in operation or under construction and a total project portfolio of over 12 GW. With more than 450 employees, the group, headquartered in Paris, France, develops projects in more than twenty countries around the world.

With nearly two decades of experience, Akuo has delivered projects in onshore wind, photovoltaics, hydropower, biomass, and battery energy storage systems (BESS). In Central and Eastern Europe, it operates more than 324 MW, with a strong and established presence in the Western Balkans.

More projects to come in Serbia

Akuo Energy plans to further expand its presence in Serbia’s renewable energy sector. One of its most advanced upcoming projects is the Bašaid Wind Farm (85 MW) near Kikinda, which is fully permitted and ready for construction. The company is also exploring new solar power and hybrid opportunities across the country.

With the PPA for Bela Anta 2, Akuo strengthened its long-term commitment to Serbia’s energy transition and to supporting the growth of a reliable, sustainable power system in the region, the update reads.

Akuo was a silver sponsor of Belgrade Energy Forum (BEF 2025), held last week in Serbia’s capital city.

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May 19, 2025
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Regional webinar on gender-responsive energy transition and workforce empowerment

A regional webinar titled Gender-responsive Energy Transition and Workforce Empowerment in the Western Balkans will be held on May 22. The aim of the webinar, organized by GIZ, is to initiate a dialogue on the social and gender aspects of the transition from fossil fuels to renewable energy sources.

The energy transition in the Western Balkans is bringing significant changes. The shift to renewable energy leads to a restructuring of the labor market. More than 138,000 jobs are currently linked to coal-based industries, raising questions about the social impacts and the need for workforce reskilling.

Investing in skill development and workforce adaptation is essential to mitigating social challenges, particularly gender inequalities, during the energy transition process.

GIZ recently conducted the first comprehensive analysis of the impact of the energy transition on the labor market in the Western Balkans. The study outlines the expected job losses and gains, identifies the skills needed for future employment in the renewable energy sector, and highlights the crucial role of technical and vocational education in this process.

Everyone interested can register via a link

The the findings of the study will be presented at the webinar Gender-responsive Energy Transition and Workforce Empowerment in the Western Balkans, scheduled for May 22 from 14:00 to 15:30. The event will be held online via Microsoft Teams, and all interested participants can register via this link.

The discussion will feature Valentina Vučković, a socio-economic expert from the Institute for Development and International Relations (IRMO), who will present the research findings. Fiona Imami from the organization Co-Plan will speak about policy solutions for coal mine regions within the concept of a just transition, and Marta Schulte-Fischedick from the Energy Community Secretariat will address gender inequality issues and potential systemic solutions.

Special emphasis will be placed on the need for greater synergy between the education and energy sectors to ensure that the workforce can effectively adapt to new conditions. The discussion will also cover issues of gender equality, the inclusion of women in the green energy sector, and ways to reduce existing gender disparities in employment and career advancement in the field.

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May 19, 2025
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Wind farm project in Cyprus rejected to protect birds, habitats

The Department of Environment of Cyprus scrapped a proposal for a wind power plant partly within or near protected areas due to the expected impact, including on vulnerable bird species such as the Bonelli eagle and long-legged buzzard. The project was launched in 2008 and amended several times.

Stivo Trading and its wind farm project in Cyprus failed to renew a temporary planning approval. The developer initially proposed 33 turbines of 49.5 MW in total, the domestic press reported.

Since 2008, when the project was launched, it was amended several times. The final version, from 2023, is for just four wind turbines instead of the previous ten, and a capacity of 18 MW, down from 22.5 MW.

Irreversible impact on Natura 2000 zones

The sites are within and near the Panagia Stazousa River special protection area and as close as one kilometer from the Stavrovouni forest, designated a special area of conservation.

The locations belong to the local communities of Pyrga, Klavdia and Alethriko. The Department of Environment said it expects that the investment would directly, negatively and irreversibly impact the Natura 2000 zones. It includes vulnerable species, habitats and conservation objectives.

Environmental authority highlights risk to birds from collisions, electrocution

Sensitive species would be displaced and their populations reduced, the update reads. The environmental authority also highlighted the risk to birds from collisions and electrocution.

It pointed to a cumulative impact from supporting infrastructure and the existing projects. In the wider area there are four wind power plants, of which the one in the northeast is in the Panagia Stazousa River special protection area. West of Stivo Trading’s zone, the fifth one, is a nesting area.

The department highlighted the Bonelli eagle, long-legged buzzard, the European roller and thrush, among other birds. At least three Bonelli’s eagles died in collisions with energy infrastructure and another five by electrocution.

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May 19, 2025
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Serbia to invest EUR 60 million in renewables in district heating

Serbia plans to sign an agreement by the end of the year on introducing renewable sources in district heating plants, according to the Ministry of Mining and Energy.

Minister of Mining and Energy Dubravka Đedović Handanović met with Ambassador of Germany Anke Konrad and Director of Germany’s KfW Development Bank for Southeast Europe and Turkey Klaus Müller.

They discussed cooperation on ongoing projects in the energy sector and a plan for further investments in renewables and energy efficiency.

The minister highlighted the successful cooperation with KfW in the construction of biomass heating plants and the introduction of renewable energy in district heating systems. She recalled that four biomass heating plants have been installed.

In the coming years, new boilers will be installed in several heating plants

She noted that in the second phase of the project, in the coming years, heating plants in Prijepolje, Novi Pazar, Niš, Rača, Vranje and Majdanpek are envisaged to get new boilers.

By the end of the year, Serbia plans to sign an agreement on the introduction of renewables in district heating plants, namely solar technology and heat pumps, Đedović Hanadanović announced.

The investment is estimated at EUR 60 million, of which EUR 20 million would be a donation, thanks to the support of KfW, she added.

Serbia and Germany plan to strengthen cooperation

Đedović Handanović stressed the importance of the climate partnership with Germany and thanked for the support that the other country provides to Serbia in the modernization of the energy sector.

“We are grateful to the German government and the KfW Development Bank for their continuous support in different subsectors in energy, from district heating and energy efficiency to the development of new capacities from renewable energy sources,” she stated.

In line with its ambitions and reform goals in energy, Serbia intends to deepen cooperation with Germany through new projects.

Of note, the four heating plants were installed in Priboj, Mali Zvornik, Novi Pazar and Majdanpek. The agreement for the second phase of the project was signed in May last year.

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