Investing.com — Greek Prime Minister Kyriakos Mitsotakis has urged the European Union to devise new strategies to reduce gas and electricity prices. It’s part of a broader initiative to boost the bloc’s competitiveness.
Mitsotakis highlighted the need for innovative approaches to solving the problems facing the EU in a letter to European Commission President Ursula Von der Leyen. He stressed that high energy prices indicate the need to act faster and differently.
The Prime Minister’s call comes at a time when Europe’s competitive disadvantage compared to the United States and other low-cost markets is becoming increasingly evident. This disparity was particularly visible during the 2022 energy crisis and is once again in the spotlight as Europe prepares for possible trade wars with the incoming Trump administration.
Greece, meanwhile, is working to strengthen its position as a key entry point for energy imports into the region. These efforts include investments in liquefaction terminals, pipelines and power lines.
In his letter, Mitsotakis stressed the importance of better integration of national networks within the EU. He also called for renewed attention to gas security, citing changes in the geopolitical landscape that make this task more urgent. Despite Europe’s plans for a future less dependent on gas, the prime minister said the continent would still rely on gas for at least the next two decades.
He further urged the EU to allow European companies to invest in gas projects and infrastructure and to sign contracts guaranteeing access to global supplies.
On electricity, Mitsotakis suggested the formation of a working group to increase cross-border flows in areas with significant price differences. He also called on the EU to revamp its long-term planning process for networks and limit the costs associated with excessive emissions regulation.
The European Commission, after five years of focusing on green initiatives during Von der Leyen’s first term, is now laying out the actions needed to boost competitiveness. This is done while maintaining its ambitious climate policies.
Mitsotakis, a strong supporter of Von der Leyen’s re-election, was one of two leaders who supported his candidacy on behalf of the European People’s Party.
This article was generated with the support of AI and reviewed by an editor. For more information, consult our General Terms and Conditions.
