Greek Prime Minister Kyriakos Mitsotakis has written to European Commission President Ursula von der Leyen urging the EU to take immediate action to address the rapidly rising power and natural gas prices that are crippling the bloc's competitiveness and placing a heavy burden on households.
Greece is urging the European Union to accelerate its efforts to address the soaring power and natural gas prices plaguing the bloc. Prime Minister Kyriakos Mitsotakis, in a letter to European Commission President Ursula von der Leyen obtained by Bloomberg News, expressed concerns that these high prices are eroding the EU's competitiveness while placing a significant financial burden on households.
European wholesale electricity prices surged to a 20-month high in November, further straining key industries in major economies that had only recently begun to recover from the 2022 energy crisis. While energy costs have risen sharply across Western Europe, including Germany, France, the Netherlands, Spain, and Italy, countries in Eastern and Southeastern Europe, such as Greece, have been disproportionately affected, experiencing even higher energy prices compared to their Western counterparts.Greece, along with Bulgaria and Romania, has already called on the EU to convene discussions on implementing measures to alleviate the escalating energy prices. Mitsotakis, in a separate letter to von der Leyen dated May 2024, emphasized the need for a more competitive and transparent Single Market for consumers, ultimately aiming to improve the living standards of EU citizens. He stresses the urgent necessity for the EU to act swiftly and strategically, exploring innovative solutions to address the pressing challenges facing the bloc. Mitsotakis specifically advocates for enhanced integration of national power grids and additional measures to safeguard both Southeast Europe's and the EU's natural gas security. He also calls for limitations on the costs associated with overregulation of emissions. Mitsotakis acknowledges the evolving geopolitical landscape, highlighting the increased urgency of these calls for action. While the European Union is transitioning towards a reduced reliance on natural gas in its energy mix, Mitsotakis points out that the bloc will continue to depend on gas for at least two decades
Energy Prices European Union Greece Natural Gas Single Market
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stacey Solomon Urges Joe Swash to Clean Up His ActStacey Solomon is encouraging her husband, Joe Swash, to be more organized at home as they start the new year.
Read more »
US economy smashes expectations with 256,000 jobs created in DecemberThe figure comes as Federal Reserve considers how swiftly to continue cutting interest rates
Read more »
Science Teacher and Expectant Mother Die After Tragic Fall in GreeceA science teacher and expectant mother, Clara Thomann, lost her life after a fall in Crete, Greece. Her family and loved ones are mourning her passing and celebrating her life.
Read more »
School Teacher Dies in Greece Hiking Accident While PregnantClara Thomann, a 33-year-old school teacher from California, tragically died after falling 50 meters down a gorge during a hike in Crete, Greece. She was six months pregnant at the time and sustained major injuries to her chest and skull. She was pronounced brain dead less than a week later, and her unborn child also passed away. Tributes have poured in for the beloved teacher from students, colleagues, and family.
Read more »
Ukraine receives first US gas shipments via GreeceKyiv’s purchase comes before expiry of Russian gas transit deal and Trump’s inauguration
Read more »
Britain set for NO snow this Christmas as weather map reveals temperatures hotter than Greece this...Conditions across the country are expected to improve this week following what was a wet and windy weekend for many.
Read more »