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Potential economic and environmental benefits from the interconnection of the Greek islands

Zafeiratou, E; Spataru, C; (2017) Potential economic and environmental benefits from the interconnection of the Greek islands. International Journal of Global Warming , 13 (3/4) pp. 426-458. 10.1504/IJGW.2017.10007775. Green open access

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Abstract

Greece consists of 58 non-interconnected islands, located mainly in the Aegean Sea. Electricity is supplied to this region by 32 autonomous power systems (APS) using heavy fuel oil or diesel power generators. A number of interconnections between the islands and the national grid system have been scheduled for the upcoming years. In this paper, we analyse the economic and environmental benefits following the interconnections. It was concluded that Greece could save between 2015 and 2040, from 9.73 to 17.82 billion Euros, subject to fuel price costs and demand growth. These amounts are charged to the Greek power customers through a cross subsidisation policy known as public service obligation. Additionally, avoided costs for APS upgrade, range between 2.63 and 1.80 billion Euros. Interconnectors will also reduce the carbon footprint in the area by 51.1%–65.5% compared to the scenario of preserving APS. This is attributed mainly to renewable energy development reaching proportions of 84.7%–119% of the total power demand by 2040.

Type: Article
Title: Potential economic and environmental benefits from the interconnection of the Greek islands
Open access status: An open access version is available from UCL Discovery
DOI: 10.1504/IJGW.2017.10007775
Publisher version: http://doi.org/10.1504/IJGW.2017.10007775
Language: English
Keywords: autonomous power systems; carbon emissions; Greek islands; interconnections; public service obligation; projections; renewable energy; wind energy; submarine cables; energy scenarios.
UCL classification: UCL
UCL > Provost and Vice Provost Offices
UCL > Provost and Vice Provost Offices > UCL BEAMS
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment
UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > Bartlett School Env, Energy and Resources
URI: https://discovery.ucl.ac.uk/id/eprint/1574593
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