News brief of 1.12.2016

News from the Greek energy market:

By its decision No. 454/2016 RAE approved the Annual Cost and Required Revenue for the Hellenic Electricity Distribution Network (EDDIE) for 2017, as follows:
Annual EDDIE Cost for 2017: 753,682,000 € & Required EDDIE Revenue for 2017: 741,785,000 € (Α1).

European news:

1.On November 30, the Commission presented the new energy package “Smart and Clean Energy Package”, also known as “Winter Package” which is a new set of legislative proposals of the European Union for the operation of the new, integrated internal energy market.

2. International Energy Association- IEA released the last report of the "World Energy Outlook 2016 (WEO)" series, which explores the impact that Paris COP21 commitments about Climate Change will have on energy by 2040.
Specifically, the report tracks the progress that signatory countries are making in observing their pledges, in alternative policies available to reach the objectives set in Paris as well as the long-term changes expected. Major focus is placed on renewables and what their rising share means for the development of energy market. On the other hand, as the Paris Agreement intends to drive transition to a low carbon future, ample energy supply is putting downward pressure on fossil fuel prices, which raises the issue of whether such change is temporary it is here to stay. In short, this report examines the impact that changes in market balances will have on energy sources and the risks that may emerge further ahead (Β3).

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