site.btaEnergy Minister: Investment in Networks, Mutual Connectivity Are Key to Solving Issue with High Energy Prices in SE Europe

There is a serious need for targeted investment in networks and mutual connectivity. Solving this issue is the key to an adequate response to the challenges related to the high energy prices in Southeast Europe. That is why it is decisive to support all market participants, including infrastructure operators, caretaker Energy Minister Vladimir Malinov said here on Tuesday. He was speaking at a meeting with Energy Ministers Theodoros Skylakakis of Greece and Sebastian Burduja of Romania. The three ministers talked within a regular meeting of the EU Transport, Telecommunications, Energy Council in Luxembourg.

A month ago, Bulgaria, Greece, and Romania issued a joint position to the EU calling for solidarity in solving the issue at the European level.

The three countries' Energy Ministers agreed that there is a need for timely measures to increase the region's readiness.

Analyses need to continue to identify the causes of the situation, including: analyses of the availability of physical capacities for electricity trading; consideration of the specifics of national markets; existing electricity connectivity in the SEE region and overcoming existing barriers; increasing market interconnection in the EU; physical availability of trading capacities and their adequate allocation; potential electricity deficit in Ukraine in the coming winter period. The three ministers agreed that a common approach based on coordinated action and mutual support is most effective in times of crisis. 

Ministers Skylakakis, Burduja, and Malinov appreciated highly the discussion on the issue during the Council meeting earlier in the day and noted the need for coordinated action at European level to prevent the problem from worsening in the coming winter season. 

On the sidelines of the meeting in Luxembourg, the EU Energy Ministers also discussed the electricity price situation and took note of information from the European Commission on preparations for the 2024/2025 winter season. 

In his statement to the Council, Malinov pointed out that the expected potential electricity deficit in Ukraine in the upcoming winter season of around 6 GWh requires further analysis and implementation of targeted measures so as to minimise any negative price effects on the market.