Trio of SE Europe Ministers Call for EU Action to Address Surging Power Prices

The energy ministers of Greece, Bulgaria and Romania said sharp price hikes in SE Europe's wholesale power markets last summer wer due to external factors

The relevant energy ministers from Greece, Romania and Bulgaria last week addressed a joint letter to the Commission requesting measures to address what they charged were sharp price hikes in southeast Europe’s wholesale electricity markets last summer due to external factors.

The initiative was revealed in Athens on Monday on the Greek ministry’s website.

The letter, signed by Thodoros Skylakakis, Vladimir Malinov and Ioan Burduja, of Greece, Bulgaria and Romania, respectively, was sent to EU Energy Commissioner Kadri Simson. The three ministers emphasized that price volatility in the region has put significant pressure on the countries’ economies, threatening both energy security and market stability in SE Europe.

The four key issues raised by the trio of ministers in the letter are: Insufficient interconnector capacity; fragmentation of energy markets; reduced flexibility in generation capacity, along with geopolitical factors and supply security.

Source: tovima.com