Greek PM proposes six-point plan to stabilise Europe’s energy market

·

In a letter to European Commission President Ursula von der Leyen, the Greek Prime Minister, Kyriakos Mitsotakis, called for a six-point proposal to counter a jump in energy prices in the European Union as the war in Ukraine continues.

The proposed plan, outlined by Mitsotakis in an opinion piece on news outlet Politico, includes a price cap on title transfer facility (Europe’s regional gas benchmark), and daily price guardrails to limit volatility on the fluctuation band on TTF.

Mitsotakis has written to von der Leyen (left).

It also foresees a fixed-price setting as an emergency reaction to declarations regarding pipeline gas flows from Russia, as well as a profit cap on gross margins.

“Natural gas has become a major factor in the power struggle between Russia and the European Union,” Mitsotakis said.

“This spiral of speculation and politicised price hikes must stop.

“Extreme circumstances call for out-of-the-box thinking, and the time has come to address this threat head on. We are seeking to intervene only as a last resort and with a temporary set of measures.”

The European Commission said on Tuesday that it plans to store more natural gas and add more renewable-energy sources as part of a plan to reduce the bloc’s dependence on Russian gas imports by two-thirds by the end of the year.

According to the EU, the plan could end members’ dependency from Russian gas entirely before 2030.

Source: Ekathimerini.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Mitsotakis rules out sovereignty talks, keeps focus on EEZ dispute with Turkey

Greek PM Mitsotakis said the nation is willing to refer the delimitation of its exclusive economic zone with Turkey to International Court.

Gavdos migrant boat video sparks debate amid surge in arrivals

A video filmed on Gavdos island has gone viral, showing locals pushing a migrant boat into deeper waters near Sarakiniko beach.

Greece and Libya move toward EEZ agreement in Athens talks

A meeting in Athens between Greek FM George Gerapetritis and acting Libyan Foreign Minister Taher Salem Al Baour has paved the way.

Let’s Go Greek Festival to make history with 500kg gyros in Parramatta

Parramatta will soon be serving up history as the Let’s Go Greek Festival returns on September 21 - with the creation of the largest gyros.

A Life, A Tradition: The Greek Lyceum of SA’s ‘Cycle of Life’ performance

The Greek Lyceum of South Australia transformed the stage into a platform for artistry and community spirit on Sunday, September 14.

You May Also Like

Australian restaurateurs with Hellenic heritage shine at Gourmet Traveller Awards

Australians with Hellenic heritage were in the spotlight at the 2025 Gourmet Traveller Annual Restaurant Awards.

Andrew Pippos’ Lucky’s shortlisted in PM’s Literary Awards

Andrew Pippos’ 'Lucky's' - an ode to Greek Australian diners - has been shortlisted for the fiction prize in the PM's Literary Awards.

Oakleigh Cannons’ NPL match abandoned due to fan brawl

FV are investigating an incident of fan violence that forced the abandonment of a Oakleigh Cannons and Dandenong Thunder match.