Savings of up to five billion euros are expected to be generated by the operation of an undersea power cable connecting Crete with the Greek mainland until 2035 due to reduced public utility charges (PUC), according to the Independent Power Transmission Operator (IPTO or ADMIE).
ADMIE estimates that over the next decade, the benefit to all consumers in the country from will amount to 400-600 million euros per year.
According to a relevant announcement by ADMIE on Friday, the benefits arise from an estimated total cost of electricity supply to Crete, which ranges from 480 to 660 million euros per year and which increases every year, mainly due to the increase in demand, if the island remains off the national grid.
Over a decade, the savings in public utility charges will be on average 4.5 times greater than the grid usage charges.
It should be noted that the estimated cost of maintaining the necessary reserve power generation capacity for emergencies, a so-called “cold reserve”, is estimated at between 40-60 million euros per year until 2035.
Source: tovima.com
