Greece has joined forces with Romania and Bulgaria to work towards a permanent solution to soaring power prices in southeastern Europe.
Greece’s Energy Minister Theodore Skylakakis said the unified European Union electricity market was not working for the region. Greece has seen a surge in power prices during the summer months when there is high demand for air conditioning and power supply from other interconnected countries is short.
“Power links are not enough to carry power from the central European market to the southeastern one. This leads to extreme prices on some days, something that cannot be accepted,” Skylakakis told a Greek radio station on Monday.
Greece’s Energy Ministry said in a statement that its joint initiative with Bulgaria and Romania will create “a permanent intervention mechanism whenever extreme prices are recorded.”
Greek Prime Minister Kyriakos Mitsotakis is expected to send a letter to the European Commission on the issue this week.
Source: Reuters.
