Photo: IPTO
New power interconnections between mainland Greece and the Dodecanese and Northern Aegean islands have been pushed back by a year.
According to recent statements from the Independent Power Transmission Operator (IPTO or ADMIE), both interconnections were scheduled to enter commercial operation by 2029, but now they are seen in 2030.
The cost estimations were revised upwards by EUR 900 million and EUR 344 million, respectively. This results in EUR 2.95 billion for the Dodecanese project and EUR 1.42 billion for the Northern Aegean.
The operator faces increased costs for the procurement of specialized cables, since international prices have gone up in recent years. Projections for other important projects are affected as well, within the ten-year development plan through 2034.
Another investment that has been postponed is the new 1 GW connection to Italy, now projected for 2033 instead of 2031, with an EUR 344 million cost increase. In this case, IPTO cited cost-benefit recalculation requirements made by the Italian side as the primary reason.
Changes in the allowed revenue structure
Overall, IPTO’s investments are expected to reach about EUR 6.2 billion during the period from 2026 to 2029, based on the latest proposal to the Regulatory Authority for Energy, Waste and Water (RAEWW or RAAEY), which is currently under review. The previous estimation was for EUR 5.4 billion for the same years.
Equally important, IPTO asked for an allowed revenue of over EUR 600 million for this year, up from EUR 478 million in 2025. By the end of the four-year regulatory period, it will increase to EUR 900 million. The regulator is now called to approve a final revenue level that will ensure the operator’s investments, while keeping consumer power bills as low as possible.
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