ECONOMY

PM says now is the time to reform EU electricity market

European Council President Charles Michel, left, and United Nations High Commissioner for Refugees Antonio Guterres, second left, wait for the start of a round table meeting at an EU summit in Brussels, on Thursday, [Olivier Matthys/AP]

Newsroom

March 23, 2023 23.03.2023 • 22:20

Now is the right time for electricity market reform and for more long-term planning, Prime Minister Kyriakos Mitsotakis said at the European Council meeting on Thursday, according to government sources.

Mitsotakis said that in order to exploit the advantages of renewable energy sources (RES) it is important to invest in RES networks, which he described as “the backbone of the energy transition.”

On Friday, he will meet with his Italian and Portuguese counterparts, Giorgia Meloni and Antonio Costa, respectively.

The meeting is held to coordinate and discuss the rules of economic governance ahead of the Euro Summit on Friday, government sources said. The summit of EU leaders will discuss the economic and financial situation, and policy coordination.

[AMNA]

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