The European Commission will present a short-term intervention plan for the electricity and natural gas markets at a council meeting of EU leaders next week, the validity of the measures to run through next winter, until May 1, 2023, according to sources.
It remains unclear if this set of measures, intended to subdue exorbitant energy prices, has been finalized or will undergo revisions.
The package is believed to contain new measures as well as older ones that have already been discussed at national and European level.
The plan includes an initiative for the establishment of an EU Energy Platform, whose aim will be to ensure energy supply at fair prices as well as greatly reduced, even eliminated, reliance on Russian natural gas.
EU member states will be given a specific period of time to regulate prices in the retail gas market. Emergency cash-flow measures offering relief to traders will also be made available.
Electricity market measures are expected to include taxation or regulation of excess earnings, energy price regulation in the retail market, as well as price regulation for small and medium-sized enterprises.