CrisisWatch

Crisis results in sharp reduction of energy consumption

by Michalis Prodromou - According to the IEA’s latest “Energy Balances of OECD countries” report, 2013 saw significant reductions in the total final energy consumption for three Mediterranean countries: Greece (11%), Spain (4%) and Italy (4%). Specifically for Greece, this was the fifth consecutive decrease in gross inland energy consumption.

During the reporting period (2012-2013) the aforementioned countries have also suffered major decreases in GDP levels (3,9%, 1,2%, 1,7% respectively). In order to account for this decrease, energy intensity (i.e. amount of energy consumed relative to GDP) should be used to measure the actual energy efficiency of the national economies. EUROSTAT figures show that between 2003-2013 Greece and Italy –along with the Netherlands and Estonia- have had the smallest decreases, among their EU counterparts, of energy intensity.

 

A sectoral analysis demonstrates the different energy reduction patterns of each country. Final energy consumption in Greece’s residential sector has fallen by 25%, while in Spain and Italy it was the services and industry sectors that featured the highest decrease percentages (4,8% and 8,15% respectively). The economic crisis has had a huge impact on these developments. A living conditions index study performed in Greece revealed that, in 2012, a 29,4% of the Greek population could not meet adequately its heating needs. It has also led to an increase of overdue bills to the Public Power Corporation, that have now reached a total of 2 billion euros- the biggest share, 1.3 billion, belonging to households. Greece’s Energy Minister (until July 17th), Panagiotis Lafazanis, has reportedly noted that when dealing with energy poverty, investments in energy efficiency “mean absolutely nothing for citizens and households being totally deprived of energy sources”. 

  

Last modified onFriday, 04 September 2015 11:56
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