The Greek state is in favour of a solution to set a maximum price for the Dutch TTF and against the imposition of a cap on the supply of Russian gas, differentiating its policy in relation to the measures announced by the Commission, on Wednesday.
In a statement to protothema.gr, Greek Environment and Energy Minister, Mr Kostas Skrekas said he will support this position at the Energy Council of Ministers, on Friday.
The extraordinary meeting
The energy crisis is set to take centre stage at tomorrow’s meeting of European Union energy ministers, following Vladimir Putin’s threat of an energy blackout in Europe.
The aim of the meeting, which will take place in Brussels, is to reach agreement on measures to tackle the energy crisis.
The member states
After the Czech Republic announced yesterday (Thursday) that it disagrees with the price cap on natural gas, considering it a political tool and not an effective solution, other countries such as Poland, Hungary, Slovakia and Greece also expressed serious objections.
Germany is a country that remains hesitant on the idea.
Xifaras: TTF is not a reliable indicator
On the other hand, Chief Executive Officer of Public Gas Corporation of Greece (DEPA) SA, Mr Konstantinos Xifaras, points out that the index currently used (the Dutch TTF) no longer reflects the balance between supply and demand, is unreliable and leads, due to speculative movements, to extremely high prices.
In particular, Mr Xifaras points out the following: The Greek government has submitted proposals to European leaders to address the current crisis and future challenges. I believe that the TTF no longer reflects the balance between supply and demand and we have to accept that it should not be the main benchmark for gas in Europe.
The current supply of LNG in Europe combined with the high levels of gas storage already achieved should have led to lower price levels.
We cannot accept the speculation caused by derivatives trading that has led to excessively high gas prices, which do not reflect the true cost of gas. The volume of gas traded on the TTF is 100 times greater than the volume of gas traded on the Dutch market.
The imbalance started already before Russia’s invasion of Ukraine and this indicator is no longer reliable. Obviously, it would be more efficient for the EU to create a new market index with a reference based on the actual balance of supply and demand.
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Bank of Greece Governor Says EU will Retaliate to Trump’s Tarrifs
The Bank of Greece Governor defended the independence of central banks amid criticism from U.S. President-elect Donald Trump, who had publicly commented on Federal Reserve Chair Jerome Powel
September in Greece Winning Tourists Over from US, Germany
Tourists continue to visit Greece off-season into Sept. with the number of inbound travelers up by 6.6% and a 7.9% rise in travel receipts.
Bitcoin Surges Toward $100K Amid Pro-Crypto Optimism in US
According to Reuters, the cryptocurrency surged to an all-time high, briefly exceeding $96,898 during Asian trading hours.
Greek Driver Violations at a Touch of a Button
Traffic offences recorded in the last five years by Greece’s “Driver Behavior Control System” are now available on Gov.gr Wallet
Milan Tops List of Most Expensive Streets, Athens’ Ermou Holds Steady at 15th Place
In Athens, following Ermou Street is the southern suburb of Glyfada and Tsimiski Street in Thessaloniki.
New Gov.gr Service Enables Secure Reporting of Minor-Related Delinquency
It should also be noted that via the recently introduced initiative ‘Safe Youth’ application citizens have access to specially tailored informative material regarding the safety of children and adolescents
Thousands Strike in Athens Over Soaring Living Costs and Stagnant Wages
Inflation, particularly in food prices, has been crushing Greek households
Greece Overhauls Property Valuation System
Greece plans to launch a revamped property value registry in 2025 and overhaul the way objective values are calculated to enhance tax revenue and improve transparency.
Greece’s New Tax Bill Foresees Tax Relief Beyond Big Business
Tax relief measures in Greece are proposed for freelancers, property owners and farmers, along with 'big business'
Unions Call Nationwide Industrial Strike for Wed.
Mass transits are usually affected, especially in the greater Athens-Piraeus area, although bus and metro services are curtailed but not fully halted
![Τουρισμός: Πάνω από 5 εκατ. αφίξεις σε καταλύματα τον Σεπτέμβριο [γραφήματα]](https://www.ot.gr/wp-content/uploads/2021/10/katalymata-90x90.jpg)
