Giorgos Avtias urges EU to create permanent energy price protection mechanism

European Parliament member Giorgos Avtias of the New Democracy party has submitted a formal inquiry to the European Commission calling for the establishment of a permanent European mechanism to protect households and businesses from volatile energy price increases.

Avtias, a member of the European Parliament's Committee on Economic and Monetary Affairs, argues that Europe should not have to seek emergency solutions from scratch during every new energy crisis. He proposes a permanent safety net that would automatically activate when energy prices exceed predetermined levels, allowing for the immediate mobilization of resources to support consumers and enterprises.

The inquiry also asks the Commission whether additional measures will be implemented by 2027 to reduce electricity costs, citing geopolitical tensions in Ukraine, the Middle East, and the Strait of Hormuz as drivers of the ongoing energy crisis.