A significant increase in EU electricity exports to Ukraine in the wake of Russian strikes on its grid has caused a surge in prices in Southeastern Europe, Greece’s Prime Minister has warned. In a letter to European Commission President Ursula von der Leyen cited by the Financial Times, Kyriakos Mitsotakis said that the price for electricity last month had reached 130 euro per MWh, which was up from 60 euro per MWh.
Among the other factors that contributed to much higher electricity prices in Southeast Europe was low rainfall, which emptied dams, summer heat, and power generation outages, the FT wrote in its report on the Greek Premier’s letter. “There is a fundamental distortion in the energy market of south-eastern Europe,” Mitsotakis wrote. “Something isn’t working right. I don’t expect immediate solutions, but at least let someone deal with it.