The ministers of The energy authorities of Greece, Romania and Bulgaria appealed to the European Commission to introduce taxation of the excess profits of electricity producers and traders, as well as to prioritize the development of energy connections in South-Eastern Europe, reported ANA-MPA, quoted by BTA.
The Greek Ministry of the Environment and Energy informs that, on the initiative of Minister Theodoros Skilakakis, a joint letter was sent to the European Commissioner for Energy, Kadri Simson, last Friday. The letter, signed by Romanian Energy Minister Sebastian Burduža and Bulgarian Energy Minister Vladimir Malinov, calls for measures against the sharp rise in electricity prices in the region this summer.
The ministers emphasize that the instability of prices in Southeast Europe seriously threatens the energy security and economic stability of the countries in the region.
The letter highlights key issues such as the lack of sufficient capacity for energy connectivity, the fragmentation of energy markets and limited opportunities for flexible production. Geopolitical factors are also mentioned, as well as the need to guarantee security of supplies.
Ministers insist on short-term and long-term measures. Among the short-term, they highlight the taxation of excess profits, the revenue from which can be used to stabilize the market and provide relief to consumers. They call for close cooperation between national regulatory authorities for effective market control.
For long-term measures, the ministers emphasize the importance of priority development of key infrastructure for interconnections in South-Eastern Europe. They are demanding that the European Commission accelerate the construction of infrastructure to connect the region to the wider European energy market.
Ministers also want an increase in cross-border energy connectivity capacity to achieve price convergence across the EU, especially during periods of peak demand. They also insist on the implementation of short-term financial measures that will relieve consumers and stabilize the market.
The letter also calls for enhanced regional cooperation, promoting price harmonization and improving energy security in South-Eastern Europe.
The letter was accompanied by a joint technical memorandum prepared by the three parties, which indicated the main reasons for the rise in energy prices. The document highlights the need for coordinated action at the EU level to address the challenges and ensure the sustainability of the energy market in the region.