Mitsotakis outlined several key proposals, including stronger governance, enhanced EU-wide regulatory oversight, and a special arrangement to address Russia’s targeting of Ukrainian infrastructure, which has worsened the regional energy situation. He also urged the Commission to push for new electricity interconnections to alleviate price discrepancies across EU member states.
The Greek prime minister described the energy market as an “incomprehensible black box,” arguing that even experts struggle to understand what drives price spikes. He warned that this lack of transparency is politically unsustainable and risks undermining public support for the EU’s Green Deal.
In response, European Commission spokesperson Tim McPhee acknowledged the letter, stating that the Commission would analyse Mitsotakis’ concerns and respond “in due course.” McPhee noted that the Commission is closely monitoring the situation and is in ongoing contact with member states, particularly regarding the impact of Russian attacks on Ukraine’s energy infrastructure.
Mitsotakis’ letter comes amid growing regional disparities in energy prices, with some EU countries experiencing extreme price differences. For example, Hungary saw prices soar to €940/MWh, while neighbouring Austria paid only €61/MWh. These discrepancies, Mitsotakis argues, highlight the need for more coordinated action at the EU level.
The letter concludes by emphasising the importance of addressing these issues for the success of the EU’s energy transition, noting that continued inaction could undermine both the internal market and the broader goals of the Green Deal.
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