While energy prices are soaring, notably because of gas, the Greek government announced late 2022 that energy security depends on mining and will invest 1.5 billion in gas infrastructure.
What if we shifted subsidies for new fossil gas infrastructure to energy efficiency upgrades, heat pumps or rooftop PVs? Do Member States always support these choices with adequate scenarios?
IEECP, in this study for Greenpeace, focuses on the case of Greece, which has promised 1.5bn Euro financing (NECP) of new fossil gas infrastructure, comparing the situation with one where these amounts would be used to subsidize energy efficiency upgrades and related technologies from a CBA and SCBA perspective (taking into account the multiple benefits of energy efficiency).
The key outcomes are:
– Financing fossil gas infrastructure is not economically or socially viable for heating in Greece.
– Equal subsidies must be provided for energy efficiency upgrades and ZEB.
This study in essence materializes the application of the #E1st (Energy Efficiency First principle) in policy design. It is now up to the Hellenic Ministry of Environment and Energy to rationalize the choices, moving away from the exploration for gas reserves and the massive financing of gas infrastructure and gas boilers for buildings) as those measures would increase the costs for households and further delay the energy transition.