Two Major Industries at Risk of Closure Due to Energy Costs – Government Plans Intervention

Theodoropoulos and Chatzidakis warn: urgent and just measures needed to enactment Greek manufacture and entrepreneurship

At a captious clip for Greek industry, SEV President Spyros Theodorpoulos stated astatine the General Assembly of the Central Greece Industrial Association that “two ample Greek factories are considering closure owed to precocious vigor costs.” These are dense industries whose shutdown would seriously interaction the Greek economy.

Deputy Prime Minister Kostis Chatzidakis, who participated successful the inter-ministerial gathering connected vigor costs, emphasized that the government is afloat alert of the problem and is studying measures to code it. As helium noted: “The involution we are preparing volition beryllium fair, focusing connected those astir affected, and volition not make fiscal problems for the country.”

Proposals and Interventions to Reduce Energy Costs

Chatzidakis highlighted that reducing vigor costs relies on:

• Strengthening vigor interconnections with neighboring countries and the European grid.
• Further marketplace liberalization, including Power Purchase Agreements (PPAs), supported by the authorities wrong fiscal limits.
• Utilizing European funds, specified arsenic the Modernization Fund, for targeted fiscal support.

He stressed: “For us, it is not lone astir manufacture – it is astir wide entrepreneurship. The involution indispensable beryllium fair, holistic, and stress those suffering astir from vigor costs.”

The State of Greek Industry

Contrary to claims of deindustrialization, Chatzidakis presented information showing dependable growth:

• The industry’s stock of gross worth added reached 15.4% successful 2024, up from 13.8% successful 2019.
• Industrial investments increased to 17.2% of full investments, up from 10% earlier the crisis.
• Exports of concern products reached 33.8% successful 2023, representing 71.4% of full goods exports.
• Employment successful the sector reached 428,000 workers, the highest successful 14 years and a 10% summation compared to 2019.

Government Support Strategy

Key argumentation directions include:

• Tax and societal information publication reductions.
• Simplified licensing, targeting a 25% simplification successful bureaucracy.
• Digitalization and acceleration of justness processes.
• New export-oriented strategy, aiming to summation exports that already relationship for 42% of GDP.
• Spatial plans for tourism, renewable energy, and manufacture by 2025.
• Creation of the Oinofyta Business Park, a €100 million+ investment.
• Utilization of European backing instruments, specified arsenic the Modernization Fund.
• New incentives for innovation and research.
• Training programs and skills upgrades in practice with SEV and the Central Greece Industrial Association.

Immediate Action Needed

Theodorpoulos besides criticized the slow gait of the EU’s greenish transition, noting that European countries, liable for lone 6% of planetary emissions successful 2019, decided to enactment alone. He emphasized that energy costs present relationship for 20–60% of full concern expenses, making contiguous interventions essential. He added: “Greece has go a mean country; present it indispensable go a productive country. The Draghi study has each the close proposals – they conscionable request to beryllium implemented.”

The government’s involution connected vigor costs aims to ensure the viability of dense industries, support the competitiveness of each Greek businesses, and enactment those most affected, portion avoiding fiscal strain

Source: pagenews.gr

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