ATHENS, (Reuters) – The Greek Prime Minister Kyriakos Mitchells urged Europe to find a quick solution to the soaring power and gas prices. Otherwise, the risk of seeing “forces populisms” return to the continent is very real.

Since last year’s energy price explosions, Russia’s invading of Ukraine has driven them higher. The European Union pledged to decrease its Russian gas use by two-thirds. It also increased imports from other nations and expanded renewable energy.

Greece had just emerged from a decade long financial crisis and was about to spend nearly 4 billion euros (or 4.36 billion dollars) in order to pay for subsidising power and gas bills.

Mitsotakis urged Europe to come together to address the soaring costs of energy.

He said that it was not sustainable to place this burden upon our citizens, particularly when prices are not reflecting the fundamentals supply and demand.” During a meeting in Athens with EU Energy Commissioner Kadri SIMSON, he stated.

“If this is not addressed, the forces of populism could reemerge throughout Europe,” he stated, adding that it was important for the EU to consider multiple options including the Greek proposal to cap gas prices, and immediately break the link between electricity and gas.

European countries are trying to create a reserve of gas before winter to be able to deal with possible supply interruptions by Russia which provides 40% of EU’s energy needs.

Last month, the European Commission proposed legislation that would require EU countries to increase their gas storage capacity to 80%.

According to a plan to ensure its energy supply if Russia stops gas flow, the Greek gas grid operator, Kostas Skrekas, Energy Minister, will receive a floating tank to increase the storage capacity at Greece’s only liquefied natural gasoline terminal.

Athens’ Revithoussa Terminal can hold 225,000 cubic metres gas.

According to two people familiar with the matter, the aim was to double the terminal’s capacity to 150,000 cubic metres.

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