Despite progress made in recent years, energy costs in Greece remain significantly higher than those in competing regional countries, said Spyros Theodoropoulos during his re-election as President of the Hellenic Federation of Enterprises (SEV). Speaking at SEV’s annual General Assembly—held on Tuesday, 16 June 2026, at the Athens Concert Hall—the newly re-elected SEV Board Chairman emphasized that there is now greater scope for national policy interventions to address this persistent issue.
Key Priorities for Competitiveness
Theodoropoulos outlined several ongoing priorities for SEV: further reducing non-wage labour costs; enhancing flexibility in the labour market; and shaping collective bargaining agreements that reflect both productivity and competitiveness. He also stressed the need for a more effective framework to support flagship and strategic investments—and highlighted accelerated depreciation as one of the most powerful tools available, enabling businesses to implement investment plans quickly and with minimal bureaucratic burden.
SEV’s Broader Role in Society
Rania Aikaterinaris, Chair of SEV’s Executive Committee and Vice-Chair of its Board, underscored SEV’s role as a social partner. Meanwhile, Vassilis Fourlis, Chair of this year’s General Assembly and head of the Fourlis Group, noted that SEV must function not only as a voice for business but also as an institutional interlocutor for both the state and civil society.
Energy Transition Challenges
Andreas Siamicis, CEO of HELLENiQ ENERGY Holdings S.A. and SEV Board Vice-Chair, pointed out that large-scale investments in renewable energy have reduced dependence on imported fuels and mitigated electricity cost spikes during crises. However, he cautioned that system stability still relies heavily on natural gas. While consumer and market support measures were important, they proved insufficient to offset rising energy expenses. Siamicis called for stronger, targeted efforts—including stable regulatory frameworks and recognition of the true transition costs—backed by well-designed incentives.
Investment and Productivity Gaps
Alexandra Papalexopoulou, Executive Board Member of TITAN S.A. and SEV Board Secretary-General, highlighted emerging opportunities for Greek industry, exports, and foreign investment attraction. Vassilis Psaltis, CEO of Alpha Bank and SEV Board Member, cited Recovery Fund programmes, which—supported by bank lending totalling €8.8 billion—helped implement investment plans worth €27.5 billion.
Yet, as Psaltis noted, the core structural challenge remains productivity. Greeks work longer hours than the EU average—39.6 versus 35.7 per week—but output per worker stands at just 55% of the EU average.
Efthychios Vasilakis, President of [organization name redacted due to incomplete source text], also addressed the assembly.