Thursday, September 1, 2022, 11:12
The European Commission is considering all possible options to limit the rise in energy prices, as well as to reduce demand, as part of its upcoming proposals to tackle energy costs, a senior Commission official said today Thursday.
“Emergency measures for electricity prices are being considered. There may also be something about reducing demand for electricity,” Mechtild Vorsdorfer, deputy director-general of the Commission’s energy division, told a meeting of the European Parliament’s energy committee.
The Commission is also considering reforming the design of the European Union’s electricity market in the long term, he added.
Price ceiling pressures
The content and details of the emergency intervention planned by the Commission are still in the planning stage, but will probably be presented by the Commission next week.
They are the result of intense pressure and appeals from a large number of member states who have asked for limits on the level of electricity prices. The Czech government has called for a cap on natural gas prices when it is used to generate electricity.
So far, EU member states have committed around 280 billion euros to measures such as tax breaks and subsidies in an effort to limit the impact of the energy crisis on households and businesses.