The president of METLEN <\/b>noted that geopolitical challenges are now acting as the main catalyst for changing the energy model<\/b>, shifting the priority from climate change<\/b> to energy shielding<\/b>.<\/p>\n
The new dynamics of the energy transition<\/b> in the light of the current international crises was analysed by the President of METLEN, Evangelos Mytilineos<\/b>, during his intervention at the Energy Transition Summit in Athens. <\/p>\n
Mittilineos<\/b> assessed that the transition process is receiving a new, strong impetus, but one that stems from different motivations than in the past<\/b>. In particular, he stressed that the key driver of change is no longer solely the need for unfragmentation<\/b> and protection of the environment<\/b>, but rather the imperative need for security of supply<\/b>.<\/p>\n
Mytilineos<\/b> stressed the need to develop energy storage<\/b> and warned of a risk of a rise in gas prices next winter. In particular, Mytilineos called it a “unique opportunity” for the energy transition for security of supply reasons.<\/p>\n
“Poor countries in Southeast Asia, and other regions, have stopped buying gas because they simply don’t have the money and they have 12-hour power cuts. These countries now understand that they have to act to not depend on anyone. That means renewable resources, grids and whatever else is needed<\/b>,” he said.<\/p>\n
“The same is true for Europe. Because it is true that once again Europe is paying the highest price because of the Gulf War,” he said. Mytilineos also pointed to the fact that Europe is in danger of replacing one dependence with another, on Russian supply via pipelines to liquefied natural gas (LNG)<\/b>, mainly of US origin, which now covers about 80% of the company’s imports via Revithusa. He also warned that the US use of energy as a geopolitical tool would have much wider implications for transatlantic relations.<\/p>\n
In the same context, he stressed the issue of the competitiveness of European industry<\/b>, noting that for an industry that competes internationally with electricity prices of around 30 euros\/MWh, survival is becoming extremely difficult at current costs. He said European industry has been trying for years to explain the problem to Brussels, to no real effect.<\/p>\n
He said, however, that until technology is developed and there are long-life batteries<\/b> there will be a dependence on fossil fuels. “When photovoltaic panels go out, prices shoot up from zero to 220 euros. Until the technology enables us to have batteries with 6, 8 or 10 hours of battery life<\/b> that are affordable, we will be dependent on fossil fuels for about half of the day.”<\/p>\n
As he explained, next month METLEN will start operating the largest battery in Greece<\/b> (and one of the largest in Europe), with a capacity of 330 megawatts<\/b>. “But it’s only for two hours,” he noted. “I hope the next step will be six hours. And that will provide a lot of help. I don’t see any other way to solve the problem of fragmentation<\/b> if we can’t get affordable batteries.”<\/p>\n
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