At a critical juncture on the international stage, the 27 leaders of the European Union They are set to meet in a few hours in Brussels for a Extraordinary Summit, which is called upon to address issues such as Financial support and the reconstruction of Ukraine, food supply chain security, energy, and defense.
Government sources confirm that, during his remarks, the prime minister, Kyriakos Mitsotakis, will reiterate his proposal to take measures in the a move toward market rationalization, with the aim of reducing the final price of electricity paid by consumers. These same individuals also point out that the government has implemented its own national support plan, which provides for Increased electricity subsidies for May and June as well as A retroactive refund of up to 600 euros to the bank accounts of consumers with an income of up to 45,000 euros for the pay raises that were not subsidized during the period from December 2021 to May 2022.
Furthermore, The national support plan provides for the indirect elimination of the adjustment clause with the mechanism that will take effect on July 1 and which will reduce electricity rate increases by 70-90%. However, beyond interventions at the national level, Greece will continue, as government officials confirm, to seek a European solution since, as the prime minister has repeatedly stated, this is a European problem that requires a European solution. In this context, Kyriakos Mitsotakis is expected to emphasize that the broader picture of the need to reduce dependence on Russian fossil fuels must not overshadow the discussion on the need to take immediate measures to curb electricity prices and provide relief to citizens.
Also related to the above are the European Commission’s latest proposals on energy and RepowerEU, which, according to Athens, are a step in the right direction. It should be noted, however, that Greece can still draw additional funds from the European Emissions Trading System (ETS) as well as from unallocated RRF loans; however, it is clarified that these proposals do not sufficiently take into account the need to support consumers.
In light of Turkey’s provocative actions, Kyriakos Mitsotakis is expected to brief his counterparts on the escalation by the neighboring country and the surge in Turkish provocations, as well as the risk of escalating tensions in the region, at a critical juncture when the last thing needed is yet another flashpoint in an already geopolitically charged European landscape. In fact, he is expected to emphasize that Greece is always in favor of dialogue, but that violations of sovereignty and sovereign rights will not be tolerated.
Sp. Mourelatos
