Impact of the Coronavirus on the Greek Energy Market

At this early stage of the crisis, it is fairly difficult to address the disastrous effect that COVID-19 is anticipated to have on the energy markets all over the world. However, it is crystal clear that energy markers have been negatively affected by a huge decline of both supply and demand. This decline is apparent in the volatile oil markets, in the significant slowdown of industrial activity, in the simultaneous decrease of electricity demand, in the delays of ongoing developing projects of Renewable Energy Sources (RES) and in the deterioration of global natural gas trading. This article attempts to provide an early analysis of the ongoing crisis, by reviewing the current state of the Greek energy market and carefully drawing direct links in terms of short and long-term consequences.