French power pricing proposal tops EU energy ministers talks

French Minister of the Ecological Transition Barbara Pompili is expected to reiterate her proposal for a detachment of electricity pricing from natural gas prices, an initiative supported by the Greek government, at a meeting of EU energy ministers tomorrow in France.

The meeting, in Amiens, northern France, is being staged following the release of a latest European Commission report projecting natural gas and electricity prices will remain elevated over the next two to three years.

Though tomorrow’s meeting is the first day of an informal two-day session, the electricity pricing issue will be tabled as the French government, which has just assumed the EU’s rotating presidency, has prioritized revisions for the wholesale electricity market, the intention being to achieve retail prices that reflect the energy mix’s average cost.

According to sources, French officials believe conditions have ripened for an agreement on needed revisions which, according to a statement published on the French EU presidency’s website, will aim to protect consumers from extremely volatile and record-high natural gas and electricity prices, will also striving to achieve EU climate objectives.