Prysmian secures major Greece and Tunisia links - 22 Jun 2026

As of June 22, today’s news is dominated by Prysmian's new projects announcement and the resignation of UK Prime Minister Keir Starmer. Prysmian has been awarded a framework agreement with the Greek electricity grid operator IPTO for a value of around 910 million euros for the development of electrical interconnections for the Dodecanese and North Aegean islands in Greece, the company said in a statement. The project will support energy infrastructure in Greece and will bring significant benefits to the islands and the national-economy overall thanks to the greater reliability and enhanced efficiency in the country's national grid. Meanwhile, Prysmian has received from Terna and STEG the Tunisian electricity grid and gas operator, the notice to proceed for the construction of the submarine power interconnection between Italy and Tunisia, ELMED. The value of the contract is about 460 million euros and will now be included in Prysmian’s backlog of projects, the company said in another statement. For this project, Prysmian will manufacture cables in Naples. In UK political news, Prime Minister Keir Starmer announced he would resign as Labour leader, paving the way for Andy Burnham, the former Mayor of Manchester, to potentially succeed him. Following Starmer's announcement, Burnham and former Health Secretary Wes Streeting expressed their intentions for a smooth transition of power, with Streeting endorsing Burnham. Starmer’s decision reflects a dramatic shift in Labour’s leadership narrative, marking an unstable period in UK politics with the potential for a fifth Prime Minister in just over a year. Turning to the energy market, spot prices for electricity in Europe soared above last winter's levels due to high temperatures and diminished wind power supply. In Germany, the day-ahead baseload contract reached 182 euros per megawatt hour, a 46.7% increase from the previous closing price. Similar upward trends were noted in France, where a fall in wind generation is expected amid escalating heatwave conditions, raising concerns about energy supply reliability across the continent. On the international front, discussions between the US and Iran revealed signs of progress, with both sides working towards a peace deal amid ongoing tensions. Negotiations in Switzerland, mediated by Qatar and Pakistan, have led to an agreement on a roadmap for future cooperation and mechanisms to address conflicts in Lebanon involving Iranian-backed Hezbollah. Despite the backdrop of military threats and regional instability, officials expressed optimism about reaching a lasting agreement in the near future.