Greece is not satisfied with the European Commission's proposal for a gas price cap of 275 euros per megawatt hour and will continue to work with other European countries to develop a new initiative, Greek government spokesman Ioannis Oikonomou said on Monday
ATHENS (Pakistan Point News / Sputnik - 28th November, 2022) Greece is not satisfied with the European Commission's proposal for a gas price cap of 275 Euros per megawatt hour and will continue to work with other European countries to develop a new initiative, Greek government spokesman Ioannis Oikonomou said on Monday.
On November 22, the European Commission proposed a 275 euros ($286) cap per megawatt hour starting January 1 for the front-month price at the Dutch gas exchange TTF, the EU's benchmark. The cap will be triggered only if its difference from the global LNG price average exceeds 55 euros for 10 consecutive trading days, according to the plan.
"Greece has clearly stated its position regarding European intervention and the price cap. It is clear that the European Commission's proposal for a price cap of 275 euros does not suit us and does not serve the stated aims or the ambitions of European citizens. We will continue to apply pressure with other countries in order to prepare a proposal that will have a result," Oikonomou told journalists during a briefing.
The spokesman also said that the government, regardless of the EU decision, has a concrete plan to support society, adding that Greek citizens pay for energy far less than average Europeans.
"I think we have the second cheapest price. And we will continue to move in that direction. We will reclaim the excess profits of the producers of electricity, and through these excess profits we will boost Greek society, every Greek, every household and enterprise. To reduce the high cost of living," Oikonomou added.
On November 24, Italian Energy Minister Gilberto Pichetto Fratin said in a doorstep comment before the energy council that at least 15 EU states have agreed to reject the Commission's price cap plan.
According to Hungarian Foreign Minister Peter Szijjarto, EU energy ministers did not make any decisions regarding the proposal on November 24, with their next meeting on the matter scheduled to take place on December 13.
Since 2021, energy prices in EU countries have been surging as part of a global trend. After the beginning of Russia's military operation in Ukraine in February 2022 and the adoption of several packages of sanctions against Moscow by the EU, the increase in energy prices accelerated. Energy security rose to the top of both global and national agendas, forcing European governments to resort to contingency measures.
