The President and CEO of PPC Group, Mr. George Stassis during his speech at the 8th Southeast Europe Energy Forum (SEEF2024) on Friday, September 6, 2024, in Thessaloniki.
«Building a secure energy system in our region requires strong partnerships, and cooperation between Southeast Europe and the United States is critical. In this new age, it is not a call for protectionism. It is a call to create new partnerships» he said characteristically. “At PPC we are committed to being a force for stability while driving the energy transition forwardhe added.
Mr. Stassis began his speech by setting the framework for the energy sector in Europe, emphasizing the dual challenge it is called upon to face. On the one hand, there is energy security, which is under pressure from the two ongoing geopolitical crises in the wider region. On the other hand, there is the “climate and energy crisis”, as he described it, with extreme heat waves that now create needs for cooling further and further north in Europe, and pressure on water reserves. These two challenges, according to the President of PPC, are inextricably linked, they are two sides of the same coin. “It is about how we secure energy for our industries and households, while at the same time ensuring a planet we can all live on”.
Referring to the issue of energy prices, the head of PPC Group emphasized that energy security has a high cost which is an important issue for Southeast Europe. The solution is Renewable Energy Sources but key to their successful development is flexibility. “Flexibility comes from both energy elements, such as batteries, pumping savings, natural gas units, as well as from resistant ones networks, including both national networks and interconnections between countries».
In this context, Mr Stassis pointed towards a common regulatory environment. “A regulatory alignment between our countries is of the utmost importance as it will eliminate price discrepancies and unlock future growth».
In this complex and fluid environment, PPC’s role is more than just an energy provider. PPC knows how to quickly develop clean and flexible installed capacity, how to expand and modernize networks and how to meet the needs of customers in the new conditions at affordable prices.
«We also know the importance of partners and, in general, what it takes to make the energy transition happen while at the same time ensuring energy security” added Mr. Stassis and continued: “This is our mission and the main driver behind all our decisions. Decisions like our investments in Alexandroupolis, an area that is becoming of utmost importance for Europe’s energy security. And our investments and acquisitions in the wider region which have made us the largest energy group in South East Europe with a diversified portfolio of assets and services”.
New CSIS research: Power Plays – Europe’s response to the energy crisis
In the discussion that followed the speech by the head of PPC, the Director of Energy Security and Climate Change of the Center for Strategic and International Studies -CSIS, Mr. Joseph Majkut, and the General Manager of PPC Group Strategy, Ms. Elena Giannakopoulou, focused on the elements that make up energy security and especially on resilience, flexibility, understanding and cooperation. The trigger for the discussion was the new research of the American institute entitled “Power Plays – Europe’s response to the energy crisis” which was presented a few days ago.
According to the research, while Europe has emerged from the crisis as a stronger energy player, challenges remain in areas such as electricity market reform, hydrogen diplomacy and the protection of critical undersea infrastructure. In terms of diversification, Europe has found a way to replace Russian gas. But this energy comes largely from sources outside the European Union. Thus, the cost of these alternative sources will be higher and thus affect Europe’s competitiveness. In addition, as Europe accelerates its green transition, it must face the risk of increasing dependence on imports for clean energy technologies, particularly from China.
The CSIS study highlights that the crisis has taught many lessons to experts and policy makers in various fields. Most lessons are positive. Europe’s democracies and markets proved resilient to shocks, Russia failed in its bid to blackmail EU member states into granting support to Ukraine, and the European Union demonstrated geopolitical courage amid a potentially devastating crisis. However, the crisis left a significant fiscal mark on European economies. The price shock and inflationary pressures have led to more alternative parties, many of which may seek to delay aspects of the energy transition, the survey said.
The entire survey is available at
The Center for Strategic and International Studies (CSIS) is a nonprofit policy research organization dedicated to advancing practical ideas for addressing the world’s grand challenges.
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#Stassis #N.A #collaborations #Europe #USA #energy #security #affordable #prices #role #PPC
