Shared power grids can shield Southern Europe from price spikes

Wholesale electricity prices on the Greek energy exchange stayed above €200 per megawatt-hour for nine days in October, hitting record levels for consumers. Meanwhile, following the European Union summit on October 15–16, former Cyprus Energy Regulatory Authority head Andreas Poullikkas warned that proposed EU responses remain inadequate to tackle high costs for households and industry.

Sceptics of deeper energy market integration argue that national governments need freedom to tailor local subsidies and market rules to protect their own citizens. Yet isolated national policies leave smaller or peripheral energy markets stranded when localized bottlenecks occur, leaving individual member states to absorb price shocks alone.

Europe can protect its consumers by accelerating the completion of a genuine single energy market. By building robust cross-border grid links and reinforcing shared infrastructure, the continent can route cheap power to where it is needed most, flattening volatile regional spikes before they reach household bills.

Drafted with AI, edited by the editor.