PRICE CRISIS: Greece achieving most EU recommendations on energy

increasing electricity energy prices greece eu

Greek government sources, specifically from the Environment and Energy Ministry, said that most the the European Union's proposals with respect to fuel prices are already being implemented by the Greek government.

The sources did not ruling out the possibility that additional support measures for consumers will be announced later this week.

The sources also referred to the Greek proposal for the creation of a Solidarity Mechanism to mitigate the impact of the international energy crisis on households and businesses.

This was following Tuesday's announcements by the European Commission for restraining prices and reducing dependence on Russian fossil fuels.

The Greek proposal calls for an EU Solidarity Mechanism from which member-states can take out low-interest loans to finance measures to offset the repercussions of soaring energy prices.

They also noted that the government was already implementing measures such as transferring profits from renewable energy sources and carbon trading rights to consumers.

This also includes discounts given by the Public Power Corporation and the gas company DEPA Commercial to their customers.

In announcements on Tuesday, the European Commission presented proposals for eliminating Europe's dependence on Russian oil and gas before 2030.

They hope to achieve this by increasing imports of Liquid Natural Gas and imports from alternative pipelines, use of biomethane and renewable hydrogen, increase in energy efficiency, increasing the share of renewables and electrification.

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The EU aims to reduce consumption of natural gas by 100 billion cubic metres in 2022, or roughly two thirds of Russian imports.

“By the end of this year, we can replace 100 billion cubic metres of gas imports from Russia. That is two-thirds of what we import from them,” EU Commission Vice President Frans Timmermans told reporters in Strasbourg, France on Tuesday.

“This will end our over-dependency and give us much-needed room to manoeuvre,” added Timmermans, who leads EU policy-making on energy and climate change.

In its plan, the EU said the bloc could become fully independent of Russian gas, oil and coal by 2030.

Timmermans, however, urged caution according to Al-Jazeera.

“The reality is that there’s quite a number of our member states who would get into real trouble if overnight, all the energy would no longer be provided from Russia,” Timmermans told members of the European Parliament earlier.

“So we need to make sure … we don’t do more harm to ourselves than we do to Putin,” he added.

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