Energy: EU, ready for a new summit in September – Economy

“If necessary, I am ready to convene another extraordinary meeting” of European energy ministers “to decide concrete measures before the end of the month”. This was announced by the Minister of Industry of the Czech Republic, Jozef Sikela, who leads the rotating presidency of the EU, at the end of the extraordinary Energy Council.

The EU energy ministers asked that by mid-September the European Commission, among other things, “propose emergency and temporary interventions, including the price cap on gas.” This is what is stated in the conclusions of the summit. “Specific measures on this aspect should also help limit the impact of high gas prices on EU electricity markets and energy prices for consumers. “On the price cap,” ministers reviewed possible options for introducing a price cap on gas imported from specific jurisdictions, further work is needed with respect to the possible introduction of such measures “.

“Today several ministers asked us to analyze the price cap for the rest of the gas imported from the EU: if the aim of our policy is to counter the Russian manipulation of gas deliveries to the EU, it makes sense to target only Russian gas. “. This was stated by the European Commissioner for Energy, Kadri Simson. “At this stage, nothing is out of the question” but, he stressed, “a general ceiling on gas imports, including those of LNG, could present a challenge to the security of supply”.

“I suppose we will take a gas-like approach, based on voluntariness” then there could similarly be a factor that will make the move to a mandatory measure. Minister Sikela said so. “We will propose targets for reducing electricity consumption during peak hours”, explained EU energy commissioner Kadri Simson.

European energy ministers ask Brussels to “extend and expand at least until 31 December 2023” the temporary crisis framework on state aid to support companies hit hard by expensive energy. The update of the emergency framework will make it possible to facilitate the coverage of the increase in energy prices for the industry, encourage investments in renewables and decarbonisation and support liquidity for the sector’s utilities struggling with high volatility.

In the Energy Council in Brussels “15 countries clearly expressed their support for a generalized price cap”, “3 would prefer to have the price cap only on Russian gas”, “3 have no preliminary rulings but would like it” subject to sustainability checks “with a reasonable opening and 5 countries that are opposed or neutral “. “It is a very strong majority”, and that is why we asked the presidency and “it will be put in the mandate given to the Commission to draw up a scenario as soon as possible”. This was stated by the Minister of Transition Roberto Cingolani.

“We will not leave our European friends in the cold.” This was stated by US Secretary of State Antony Blinken at the NATO headquarters in Brussels. “But this is the time to choose: leave behind the dependence on Russian energy, which Moscow will never stop using as blackmail, and proceed with the energy transition”.

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Energy: EU, ready for a new summit in September – Economy

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