x

Politics

Skrekas Proposes Cap on Wholesale Gas Prices to Dampen Market Price Fluctuations

October 13, 2022

PRAGUE – A cap on wholesale gas prices is the best option for dealing with the huge price fluctuations in the natural gas market, Environment and Energy Minister Kostas Skrekas reiterated at a meeting of the informal Council of European Energy Ministers held on Wednesday in Prague, while stating that Europe must take immediate decisions to secure adequate supplies and reduce prices.

The agenda of the Council concerned the next steps to be taken by the member states to deal with high energy prices, as described in the letter of the President of the European Commission, Ursula von der Leyen, to the EU leaders and the proposed reforms in the electricity market.

Skrekas underlined that, although increased quantities of natural gas are coming to the EU, prices are skyrocketing and “this means that the markets are not working properly and availability is not a matter of price but of infrastructure adequacy.”

The Greek side called for a variable upper limit to the TTF index that would ensure natural gas is only marginally more expensive than in Asia and other regions, and not double the price paid on other continents.

The minister pointed out that the proposal of 15 member-states ensures that there will be no shortages in most member-states. “Price is just as important as availability, as some consumers and households cannot afford to buy gas at high prices. As they will not be able to cope with these conditions, their situation will be equivalent to cutting off the flow of natural gas.”

RELATED

DOHA - Prime Minister Kyriakos Mitsotakis had a meeting with the Emir of Qatar, Sheikh Tamim bin Hamad al Thani, on Saturday in Doha.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

Zelenskyy Hosts Western Leaders in Kyiv as Ukraine Marks 2 Years since Russia’s Full-Scale Invasion

KYIV, Ukraine  — President Volodymyr Zelenskyy welcomed Western leaders to Kyiv Saturday to mark the second anniversary of Russia's full-scale invasion, as Ukrainian forces run low on ammunition and weaponry and foreign aid hangs in the balance.

MOSCOW - The body of Russian opposition leader Alexei Navalny has been handed over to his mother, a top aide to Navalny said Saturday on his social media account.

OXON HILL, Md.  — Former President Donald Trump cast November's presidential election as “judgment day” and declared himself a “proud political dissident” during a speech before conservative activists outside of Washington Saturday as he again cloaked his campaign in religious imagery.

NEW YORK – Greek-American Ari Raptis, Founder and CEO of Talaria Transportation, was featured in an interview in Authority Magazine (AM) sharing his insights into secure logistics.

From shamrocks to leprechaun hats to green beer, it just wouldn't be St.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.