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Politics

PM Mitsotakis Welcomes EU Decision on Natural Gas Price Cap

December 19, 2022

ATHENS. Greek Prime Minister Kyriakos Mitsotakis welcomed the European Energy Ministers’ agreement to cap natural gas prices, calling it ‘another milestone’ in protecting citizens from the price spike following Russia’s invasion of Ukraine.

In a social media post, the Greek PM said, “Today is another milestone in our long effort to shield our citizens and businesses from excessive gas prices caused by Russia’s invasion in Ukraine. The market correction mechanism – a Greek proposal submitted 9 months ago – has finally been adopted by Europe’s energy ministers.”

He added, “The market correction mechanism sends a clear message than when markets fail, governments will step in. We will not allow our institutions to be weaponized against us. This is an additional tool to help protect our economies from the extraordinary increase in gas prices.”

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