Greek Energy Min. on gas cap: A price of 188 euros would send the right message to markets

Greek Energy Minister Kostas Skrekas while attending the EU Council of Energy Ministers called on his colleagues to come up with a solution to the gas cap today, howing determination, solidarity and unity so as to mark the beginning of a better year for all European citizens.

The minister added that “we have made it clear from the beginning that a ceiling of 275 euros is not really a ceiling. Therefore, an amount in the range of 150-180-200 euros would be effective. I believe that a price of 188 euros would send the right message to the markets.”

Asked about the possibility that the disagreement between the member countries will remain, Mr. Skrekas replied that he hoped that all will stand up to their responsibilities and find a compromise path, a solution that will meet all the needs of all member states.

He also pointed out that “the safety limits we have set so far will help us not to suffer from excessively high prices that we had reached, such as 340-345 euros per Megawatt hour. This was accomplished last summer. Now is the time to start implementing a correction mechanism and then of course we have the ability to adjust it according to the results we see.”

First, he stressed, we need to implement the mechanism in order to see if it works. As long as it works we can improve it.