EU Commission now unveiling a toolbox of measures to to respond to rapidly rising energy prices as demand upticks post-pandemic.
They’re under intense pressure from national governments to do something. But most of this toolbox is just reminding countries what *they* can do.
They’re under intense pressure from national governments to do something. But most of this toolbox is just reminding countries what *they* can do.
EU Energy Commissioner @KadriSimson reminds governments that #EUETS revenues are way up.
“We call on member states to use that additional income to address the social impact of the energy price surge where needed.”
“We call on member states to use that additional income to address the social impact of the energy price surge where needed.”
Immediate measures include:
👩👧👧Emergency income support for the energy-poor through vouchers
💶Deferred bill payments;
🏦Temporary, targeted reductions in taxation rates
🏬Aid to companies ion line with EU state aid rules
👩👧👧Emergency income support for the energy-poor through vouchers
💶Deferred bill payments;
🏦Temporary, targeted reductions in taxation rates
🏬Aid to companies ion line with EU state aid rules
Simson says EC will also tackle abusive energy market behaviour by:
🌍Enhance energy diplomacy to increase transparency
👮Investigate possible anti-competitive behaviour
📈Ask ESMA to enhance monitoring of developments in the carbon market
🌍Enhance energy diplomacy to increase transparency
👮Investigate possible anti-competitive behaviour
📈Ask ESMA to enhance monitoring of developments in the carbon market
Long-term planned measures include:
♻️Step up investments in renewables, renovations and energy efficiency
🔋Develop energy storage capacity
🇷🇺Consider revising security of supply regulation
💉Consider EU joint procurement of gas (that would be huge, and modelled on vaccines)
♻️Step up investments in renewables, renovations and energy efficiency
🔋Develop energy storage capacity
🇷🇺Consider revising security of supply regulation
💉Consider EU joint procurement of gas (that would be huge, and modelled on vaccines)
European consumers organisation BEUC is welcoming the Commission's energy price solutions.
“The Commission has issued strong, consumer-centric recommendations. Now we need to see urgent action from national governments to follow through on this ambition" says @MoniqueGoyens.
“The Commission has issued strong, consumer-centric recommendations. Now we need to see urgent action from national governments to follow through on this ambition" says @MoniqueGoyens.
It's worth pointing out that while energy *price rises* are a global phenomenon at the moment (causing the knock-on effect of inflation for things like food prices in Europe & America), the only place in Europe & America right now facing fuel and food *shortages* is the UK.
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