Regulatory Governance and Water Privatization Risks: The Waste, Energy and Water Regulatory Authority Reform in Greece

The new Waste, Energy, and Water Regulatory Authority (WEWRA) in Greece brought several reactions against potential water privatization during 2023–2024. This paper provides an interpretive institutional analysis of WEWRA’s design and its implications for the existing challenges of Greek water governance, drawing on the legal text, stakeholder engagement findings, and international experience with water privatization and remunicipalization. The current structure of Greek water governance and its main challenges regarding water quantity and quality deterioration, risks management, economic, administrative, and communication mismanagement across multiple levels are presented. WEWRA, as currently designed, appears limited in its capacity to address these problems. It is currently unclear whether private actors will get involved in the water sector. For such a scenario, based on a brief overview of water privatization and remunicipalization internationally, useful lessons are highlighted. The development of a strong regulatory framework and the ability of the state to oversee a transparent and accountable water management, prioritizing sustainability at all levels (environmental, social, and economic) and community benefits over private profits, should be sought in the near future.