The Greek government has taken significant measures to reduce consumer power bills after the rise in electricity and natural gas prices, Prime Minister Kyriakos Mitsotakis said on Thursday, at doorstep comments ahead of the European Council meeting.
“We will continue to intervene in the energy market to support Greek households and small and medium-sized enterprises for as long as the crisis lasts,” he noted.
Some possible options would be buying natural gas from the EU or increasing the storage of natural gas to prevent short-term price spikes when consumption needs rise. He added that the energy issue is likely to dominate the meeting’s agenda.
In this context, the East Mediterranean could conditionally become an alternative source of energy for the European Union, he pointed out. For example, “liquefied natural gas could be transported from Egypt to Greece and then to the European gas network, or electricity could be produced in North Africa under ideal conditions and be transferred by cable from Egypt to Europe through Greece,” he noted. The East Mediterranean’s security acquires a different significance under this light, he said.