“Ensuring that there is adequate energy for the country, as well as lower energy prices, are top priorities for the government,” Prime Minister Kyriakos Mitsotakis said on Tuesday during his visit to the Liquified Natural Gas (LNG) Terminal facilities on the island of Revithoussa.
“We are striving to achieve as low an energy price as possible for consumers, households and businesses,” the prime minister said.
He noted that the problem of skyrocketing energy prices was imported and therefore demanded a joint European response but pledged that the government will continue to support energy consumers regardless, even if the EU does not reach a decision, through a subsidy scheme that will continue in May as well.
“I want to once again repeat that we are facing an unprecedented situation with an explosion in the price of natural gas. This problem is imported. It is a problem that concerns the whole of Europe and, because of this, I have personally fought for a European-wide response to a problem that is not strictly national but European,” Mitsotakis said.
PS In Revithoussa, Mitsotakis shared smiles, selfies ….
and promises.
But we here, “Lower energy prices” we hear, but “lower energy prices” we don’t see. Just a bag of peanuts as subsidy.
Not even the platform for citizens to claim subsidy for heating has opened yet. On daily basis, the gov’t heralds “it will…” next days, next week, in May…
Meanwhile, I heard on a TV channel citing a very recent poll that 9 in 10 Greeks are very angry about the electricity bills.
AS on other polls ruling New Democracy is descending quite quickly and it may soon reach main opposition SYRIZA, it’s highest time for the PM to announce “Snap elections, pals!”
Don’t ask me what this odd 1 Greek in 10 was thinking….
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Translation: “I am happy to see all you plebs nosediving into poverty due to high prices. Me and my cronies are going to do everything we can to keep the trend going. We’re paid well to screw you over, this just shows that we’re successful”
Governments everywhere have no money. They take money off you in taxes and spend it, hopefully for the common good. If the government is going to give more money to people to subsidise their increased energy costs it will need to take it off the same people first in taxes. How is anyone better off?
Hydrocarbons are traded on a global market. They are subject to global supply/demand forces. The USA is virtually self sufficient in hydrocarbons but prices there are going up just like everywhere else.
Supply is controlled by a very limited number of countries. The potential to supply is decreasing. When OPEC agreed recently to increase supply most OPEC members could not actually supply the higher allocation. Demand is constantly increasing so prices will continue to increase and there is absolutely nothing Mitsotakis or the EU can do about that. Yes there will be peaks and troughs, and we are currently experiencing a peak because of Russia’s actions, but the trend is ever upwards.
The countries that achieve energy self sufficiency, with no reliance on hydrocarbons, the quickest are the ones that will be most successful in the coming decades. That is what Mitsotakis should be concentrating on.
No need for subsidies & support of the public needed if the Gov’t takes measures to control the prices and put a break toelectricity companies that set prices deliberately and uncontrollably.
How can the government control the price of electricity when 50 % of it is generated from natural gas and it has no control over the global price of natural gas which is rocketing up in price. ΔΕΗ use the money you pay for your electricity to pay their suppliers for the natural gas they consume. If the government orders them to charge you less they don’t have the money to buy the gas so they stop generating.
naaah, ‘political intervention’ & regulation in the free market is everywhere if a gov’t wants. example, traders cannot sell A product with 90%-100% profit. can he? How about the power companies that are only providers of electricity?
Governments can only intervene and regulate where they are in control of the market. Mitsotakis has no control over the international price of natural gas. If Greece could produce as much natural gas as it needs then he could indeed intervene and dictate to Greek natural gas companies that they can only sell to Greek customers and at what price they can sell. That is not the situation.
No excuses, possible. surprise! GR has the most expensive electricity in EU (April data) 258 euros if I’m not wrong, followed by Italy at 192. BTW SPain, Portugal and I think Ireland put a price cap.
Historically the bulk price oil and gas has been higher than now. Oil high was ~1980; gas high was 2007-2009.
Almost twice the price of today.
Don’t remember paying 2€+ for petrol and 1.50€+ for heating diesel back then.
😎. (search “crude oil price historical” or “natural gas price historical” for year/price graphs)
Just found out that Greeks pay the highest price in the EU for electricity according to the EU Day-Ahead Market Price for the last few days. Average Day Ahead Market Prices for 20/4/2022 – Selected countries (wholesale price of a megawatt-hour) ;-
Sweden 76.47
Spain 85.19
Portugal 85.19
Germany 203.25
France 206.02
Greece 268.48
In euros and source EURACTIV