Brussels to present tool box of measures for energy crisis

The European Commission plans to present a new package of energy-crisis measures next week for EU member states to choose from in an effort to ease the impact of exorbitant energy prices on households and businesses, the European Commissioner for Energy Kadri Simson announced yesterday following an extraordinary meeting of EU energy ministers.

Participating energy ministers tabled proposals intended to help counter the market adversity prompted by fluctuating energy prices, the European Commissioner for Energy informed following yesterday’s session.

The upgraded tool box of measures to be announced next week will include a series of interventions for the short and longer terms, Simson noted.

The European Commission’s priority is to maintain the benefits promised by the existing market framework and competition, keep providing incentives for new investments in renewable energy sources, and help consumers reap benefits from the decarbonization process, she added.

The energy commissioner, in response to a question, rejected the possibility of a price ceiling on natural gas prices, noting this would eliminate the incentive of international trading companies to keep suppling Europe and not other markets, such as Asia.

“The goal is to find a way to minimize the consequences for consumers and businesses,” Simson said.