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POWER: Greek PM Asks EU For Support Amid Surging Power Prices

POWER
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The Greek Prime Minister has sent a letter to the European Commission to create a bloc-wide regulator with powers to inspect energy markets across the EU due to soaring power prices in central and eastern Europe according to a letter seen by Reuters.

  • He also urged the EC to support cross-border infrastructure projects within Europe.
  • Power prices in Greece have soared from €60/MWh in April to €130/MWh in August, the letter said.
  • The reasons for high power prices in the region are hot temperatures in summer, infrastructure outages, low hydro stocks due to drought conditions and higher demand from Ukraine for power imports.
  • "The new Commission should take up the task of pushing through more cross-border capacity," Mitsotakis said.
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The Greek Prime Minister has sent a letter to the European Commission to create a bloc-wide regulator with powers to inspect energy markets across the EU due to soaring power prices in central and eastern Europe according to a letter seen by Reuters.

  • He also urged the EC to support cross-border infrastructure projects within Europe.
  • Power prices in Greece have soared from €60/MWh in April to €130/MWh in August, the letter said.
  • The reasons for high power prices in the region are hot temperatures in summer, infrastructure outages, low hydro stocks due to drought conditions and higher demand from Ukraine for power imports.
  • "The new Commission should take up the task of pushing through more cross-border capacity," Mitsotakis said.