EU energy ministers agree on measures to tackle energy crisis

BRUSSELS

EU energy ministers agreed on measures to tackle the energy crisis and mandated the EU Commission to present a legal draft on taxing electricity producers and capping gas prices.

“We managed to find a clear direction for the measures which need to be taken” to tackle the crisis of rising prices, Jozef Sikela, Czech transport and industry minister, told reporters after the emergency meeting of EU ministers in charge of energy.

The ministers invited the European Commission to present a legal proposal based on the initial draft the EU executive body revealed earlier this week.

The ministers showed support for the plans on “capping the revenues of electricity producers with low production costs and introducing solidarity contribution from fossil fuel companies, which will be used to mitigate the impact of high energy prices on customers,” Sikela said.

The EU governments also expect the European Commission to propose emergency and temporary intervention in the energy market that includes limiting gas prices and providing liquidity support for utility companies, he added.

The EU executive body should also present measures for reducing electricity demand across the EU.

Sikela hopes that the European Commission and EU countries can find an agreement and he can convene another emergency meeting of EU energy ministers to officially approve the decision before the end of September.