Smart meters, wildfires, rising demand push Greek distribution grid investment plan to EUR 4.8 billion

In recent years, Greece has been experiencing extreme weather events, such as wildfires and floods, which have threatened its electricity distribution network.

Due to this new reality, caused by climate change, the Hellenic Electricity Distribution Operator (HEDNO or DEDDIE) has increased its five-year development plan for 2026-2030 to EUR 4.79 billion, around 60% up compared to EUR 3 billion allocated for 2024-2028.

The plan for the 2022-2026 period was EUR 2.2 billion.

The goal is for HEDNO to reinforce the grid against these threats and ensure its pylons do not cause wildfires as easily. Moreover, Greece has been lagging behind the European Union when it comes to smart meter penetration, and it must make fast progress in the coming years.

HEDNO has included a total of 204 projects in the new five-year plan

There is also an increased need for new user connections as a result of rising demand and the ever-present need for connecting new renewable energy plants.

To achieve these goals, HEDNO has included a total of 204 projects in the new five-year plan. Smart meters will cost EUR 1.4 billion, compared to EUR 784 million in the previous plan, so as to address the problem of power theft, which has increased in recent years, and to enable dynamic pricing in the retail market.

More specifically, EUR 195 million will be invested in 2026, followed by EUR 260-270 million in the following three years and EUR 357 million in 2030.

New user connections will cost EUR 800 million

The network reinforcement will cost EUR 991 million (EUR 608 million previously), while EUR 650 million will be spent on replacing existing lines (up from EUR 619 million). This includes projects such as underground power lines and underwater connections, as well as a focus on the protection of forests.

New user connections will cost EUR 800 million to cover the projected demand from industry, ports, data centers, and other consumers. HEDNO’s plan also includes EUR 223 million for the grid control and management.

The operator said that contracting and equipment costs have risen in recent years, affecting the size of the new five-year plan.