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Southern Europe

Greece, Spain, Portugal and Italy are facing many similar challenges in their energy markets.

All countries are dealing with rapid demand for electricity, driven in particular by a new summer peak due to air conditioning. In Spain and Portugal, for example, this is leading to significant new CCGT build and also enormous investment in wind generation through the Special Regime. Pöyry Energy has been intimately involved with many of these proposals, providing independent advice to developers and investors.

With rising electricity demand has come rising gas demand, with new LNG terminals and new pipelines under construction or being planned in Spain, Portugal and Italy. The possibility of a gas bubble remains of concern, and Pöyry Energy has helped new entrants understand the risks of investing in these markets.

Southern Europe has embarked on the process of liberalisation remarkably quickly, opening markets to competition and new entry. Despite this, there still remains many barriers to new entry, in particular the monopolistic and oligopolistic position of many of the incumbents.

Pöyry Energy expertise goes back 15 years in Southern Europe, with incumbents, governments and new entrants. Our clients value our unique combination of market knowledge combined with independence, and our market reports are regarded as the best available.