Greek PM urges EU action on energy market distortions

Greek Prime Minister Kyriakos Mitsotakis has called for urgent EU-wide intervention to address surging electricity prices and growing distortions in the EU energy market, warning that price discrepancies between member states threaten regional competitiveness and public support for the EU Green Deal.

In a letter addressed to European Commission President Ursula von der Leyen on Friday, Mitsotakis highlighted that wholesale electricity prices in Greece more than doubled between April and August, from €60/MWh to €130/MWh, despite significant progress in the country's energy transition. Greece saw a 25% increase in wind and solar power generation this summer while cutting lignite use by 27%, "yet prices rose to levels last seen in early 2023, when we were still coping with the aftermath of the most acute energy crisis in our history," he said.

Mitsotakis described the...