Power interconnections, solar energy with storage, water infrastructure and EV charging facilities feature in the plans, alongside changes to electricity charges and fixed-price contracts.
Manos Konsolas, Dodecanese MP and chair of the Greek Parliament’s Committee on Regions, has been appointed government rapporteur on a bill covering the establishment of the Islands Decarbonisation Fund and changes to the electricity market.
According to a press release issued by the MP’s office, the fund provides approximately €2.3 billion for projects and investments on the islands. The announcement states that its investment programme received European Commission approval in September.
The planned allocation includes:
- €1.1 billion for electricity interconnections and related energy infrastructure in the Dodecanese, the Cyclades and the northeastern Aegean islands.
- €977 million for renewable energy projects with storage, with particular emphasis on solar installations for self-consumption in homes, businesses, hospitals, care facilities, schools, public buildings and agricultural premises and land.
- €200 million for dams and water reservoirs.
- €56 million for electric vehicle charging infrastructure on the islands.
The press release also notes that Konsolas had called for the fund’s immediate activation through parliamentary interventions since February 2026.
According to the announcement, the bill also provides for a 50% reduction in the unit rate of Public Service Obligation charges in the first electricity consumption band, taking effect on January 1.
Electricity suppliers would also be required to offer fixed-price contracts lasting at least one year, with no changes to the agreed price or duration during that period.
The bill would additionally allow households, small and medium-sized businesses, and public bodies to share electricity generated from renewable sources.
