Mitsotakis: Electricity prices will continue to fall; Greece will not be the most heavily indebted country in Europe

The connection that vigor prices volition proceed to decline, and that the authorities is acceptable to instrumentality further enactment measures if necessary, was conveyed by Prime Minister Kyriakos Mitsotakis successful his treatment with Ben Hall of the Financial Times. At the aforesaid time, the Prime Minister estimated that for the archetypal time, perchance wrong the year, Greece volition nary longer beryllium the astir heavy indebted state successful Europe.

Kyriakos Mitsotakis underlined that Greece has already achieved important advancement successful the vigor sector, noting that from being the state with the highest wholesale energy prices successful 2019, it is present beneath the European Union average.

“Back successful 2019, Greece had by acold the highest wholesale energy price. Now we are beneath the EU mean and we are large energy exporters,” helium said.

The Prime Minister attributed this betterment to the strategy of strengthening renewable vigor sources, noting that much than 50% of the country’s energy accumulation present comes from renewables.

He besides predicted further declines successful vigor prices successful the coming period. “Prices volition proceed to autumn arsenic we adhd much renewables to the vigor premix and as, I hope, earthy state becomes cheaper,” helium said.

Regarding his estimation that, for the archetypal time, Greece volition not beryllium the astir heavy indebted state successful Europe, helium stated: “This is simply a governmental bequest for maine and an work to aboriginal generations. We volition not hazard it. Everything we bash indispensable run wrong European rules. If we are talking astir nationalist borrowing, that is simply a wholly antithetic matter. If we are talking astir European borrowing, past it indispensable beryllium directed toward precise circumstantial European priorities.”

Open anticipation of caller measures

He besides placed peculiar accent connected the unit that the precocious outgo of surviving places connected European households, describing it arsenic the biggest occupation governments successful Europe look today.

“The main occupation facing our governments successful Europe contiguous is the affordability of the outgo of living,” helium said, stressing the request for higher wages, greater productivity, and much fiscal abstraction to efficaciously code inflation.

Mitsotakis besides near unfastened the anticipation of further involution measures against ostentation if necessary.

“There whitethorn beryllium further measures to follow. I anticipation we volition not request to instrumentality them,” helium said, noting that the authorities aims for targeted and impermanent measures truthful arsenic not to further substance inflation.

Energy strategy and renewables

Referring to Greece’s wide vigor strategy, the Prime Minister said the state is present among Europe’s starring nations successful star and upwind vigor development, portion it has reduced c dioxide emissions by astir 50% compared to 2005.

He besides argued that the EU fund does not presently lucifer Europe’s ambitions and that backstage superior indispensable besides beryllium mobilised.

“If, for example, we privation to beryllium overmuch much ambitious successful defence—and for maine defence is the quintessential European nationalist good—then we should see European borrowing for circumstantial precedence areas,” helium said, adding: “I would not enactment generalized European borrowing to woody with an economical crisis, but targeted European borrowing could beryllium connected the table.”

He besides noted that Greece and Italy person deployed ships to support state of navigation successful the Red Sea.

“Greece could scope 80% renewables”

The Prime Minister besides referred to planned offshore exploration successful Greek waters for imaginable deposits, saying this would payment some Greece and Europe.

“Greece could person 80% renewable energy, but the remaining 20% indispensable travel from thing else. We are not abandoning the greenish modulation strategy. We are rapidly expanding vigor retention capabilities. Storage is captious for Greece. Natural state volition stay with america successful the foreseeable future. And we are not abandoning renewables. But if I tin find it, I similar to nutrient our ain earthy state alternatively than wage for imports. That would marque a immense quality to our nationalist finances and an adjacent bigger quality to our vigor security,” helium stressed.

He besides said that Europe does not yet person a existent vigor market, but alternatively a fragmented one, and that determination are insufficient interconnections. He emphasized the request to dainty energy arsenic a European assets and supported concern successful grids and interconnection infrastructure.

Referring to the Draghi report, helium said vigor costs are a apical priority. He besides noted that electrification volition summation energy demand, making energy prices a captious origin successful wide costs.

On atomic energy, helium said it is the lone semipermanent alternate to earthy state for base-load energy generation. A moving radical has been acceptable up to analyse the aboriginal of atomic argumentation successful Greece, but nary decisions person yet been made.