Low expectations for EU level energy crisis measures

Greek officials have low expectations of market revisions, at an EU level, that could ease energy costs ahead of an informal two-day meeting of EU energy ministers, starting today, in Amiens, northern France.

Greece’s energy minister Kostas Skrekas is expected to reiterate his stance for needed revisions that could help consumers of all categories cope better with the energy crisis’ exorbitant price levels.

EU energy ministers will discuss the need for consumer protection prompted by record-high electricity and natural gas prices, while also seeking to ensure EU climate change objectives, according to an announcement published on the French government’s EU presidency website.

For quite some time now, France has spearheaded a group of EU member states from the south, calling for energy crisis revisions in an effort to lower energy costs. France has been joined by Greece, Italy, Romania Spain.

However, the EU’s north has, so far, resisted calls for energy market revisions, which is why Greek officials remain pessimistic ahead of the meeting in France.

Member states such as Germany, Austria and the Netherlands, active in more mature markets offering futures contracts, have showed no signs of any willingness for measures as they are less exposed to the ongoing price surge.