National policies are not enough and a common European intervention is needed to help deal with the ongoing energy crisis, Prime Minister Kyriakos Mitsotakis said on Friday, after discussing the issue with his counterparts from Italy, Spain and Portugal.
Governments across Europe have scrambled to cushion the effect on consumers of gas prices that have rocketed amid concerns over supply disruptions after Russia, Europe’s top gas supplier, invaded Ukraine.
Greece has proposed a cap on gas prices and on gross profit margin in the wholesale electricity markets. Athens on Thursday detailed a new 1.1 billion euro relief from soaring energy costs. [Reuters]