European Union reaches agreement to control energy costs


European Union

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European Union flags

The countries defined a mandatory reduction of electricity demands.

Three months before the start of winter, European energy ministers met this Friday to reach a political agreement where defined emergency measures to contain energy costs.

Within the results of the meeting, a mandatory reduction of electricity demandsa cap on profits of energy producers non-gas based and a solidarity contribution of electricity generators supported by fossil fuels. This was confirmed by the presidency of the Czech Republic.

“We are in an energy war with Russia, winter is coming and we have to act now,” Czech Energy Minister Jozef Sikela said.

Likewise, the debate on adopting a cap on the price of imported gas in the European Union is still ongoing. Germany is the country that has made the most resistance to this proposal, because it is the most affected by the absence of cheap gas that is essential to maintain its industry.

Following the Russian offensive, the European Union (EU) adopted an unprecedented series of sanctions and, in retaliation, Moscow drastically reduced its supply of natural gas, a central component in keeping European industry moving.

“Europe is facing energy blackmail from Russia, and the global demand for gas is greater than the supply,” said European Commissioner for Energy, Kadri Simson.


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