Greece must reform energy market to boost economy says IEA

The International Energy Agency says that Greece could ease its economic woes by increasing competition and reducing the state’s role in its energy sector.

As the European Union last night agreed a deal to cut Greece’s debts by half, the IEA has today published a review of Greek energy policies which concludes that reforming its à‚ electricity and gas markets “is a policy imperative that should add efficiency and dynamism to the Greek economy”.

The report also states that Greece has huge renewable energy potential, particularly in respect of wind and solar, and if exploited these natural resources could provide “new industrial development, in particular if linked with R&D activities”.

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