popular articles

The EU has “no time to lose”.

EU energy ministers meet to adopt new measures to tackle the energy crisis.

Please share:

EU energy ministers are expected to adopt several emergency measures on Friday to help households and businesses caught in the throat of soaring energy bills, but many believe that more needs to be done faster and further as winter approaches.

“We are in an energy war with Russia, winter is coming and we have to act now, that is today, maybe tomorrow, not in a week and certainly not in a month,” urged Czech Minister Jozef Sikela, whose country holds the presidency of the Council of the EU, arriving at the meeting in Brussels.

The recent leaks on the Nord Stream 1 and 2 gas pipelines in the Baltic Sea, denounced by the EU as acts of “sabotage”, have further heightened tension in the bloc, already shaken by soaring prices linked to the war unleashed by Russia in Ukraine.

The ministers of the 27 countries are expected to approve proposals presented in mid-September by the European Commission, aimed at recovering part of the “super-profits” of energy producers to redistribute them to consumers, and reduce the demand for electricity.

But a majority of member states – fifteen, including France, Belgium, Italy and Spain – believe that the “most serious problem” must be addressed: they are calling for a cap on wholesale gas prices on the European market.

These countries want the measure to apply to all gas imports, not just those from Russia.

“I expect the Commission to come up with additional measures as soon as possible on how to reduce the price of gas (…) The Commission must act quickly, there is no time to lose,” said Sikela.

The EU executive, like Germany, is reluctant to take such a step, fearing that limiting prices would threaten European supplies by dissuading “reliable partners” such as Norway or the United States from supplying the EU with gas, in favour of other destinations.

Estonian Minister Riina Sikkut also spoke out against the idea, saying that “gas availability and security of supply are more important than price.

In a preparatory document, the Commission proposed setting a maximum price for Russian gas – transported by pipeline or liquefied natural gas (LNG) – which currently accounts for 9% of European imports. The

Russia was historically the EU’s largest gas supplier, transporting more than 40% of the gas in the bloc.

“Conclude faster”

To bring prices down, Brussels is counting on negotiations with other suppliers of gas transported by pipeline, but believes that for LNG, the ability to negotiate is limited by international competition. The Commission is also considering a cap on the price of gas used for power generation.

These options will be discussed by the ministers, and should result in a more detailed plan, before a summit of EU leaders on October 7 in Prague and a new meeting of energy ministers on October 11-12.

“We must go further on these issues and we must conclude more quickly,” said French Minister Agnès Pannier-Runacher. “This is a process that we want to accelerate, it’s a topic that is shared by my counterparts.”

In the meantime, the ministers must endorse a regulation aimed at capping the revenues of nuclear and renewable electricity producers (wind, solar, hydro) who make windfall profits by selling their production at a price far above their production costs.

The ceiling would be set at 180 euros per megawatt-hour and the difference with the wholesale market price would be recovered by the states to be redistributed to households and businesses. A “temporary solidarity contribution” is also planned for producers and distributors of gas, coal and oil.

According to Commission President Ursula von der Leyen, this could result in a total of about 140 billion euros in revenue.

The bill also sets a binding target for states to reduce their electricity consumption “by at least 5%” during peak hours. The EU-27 are also called upon to reduce their monthly electricity consumption by 10%, an indicative target.

Many EU countries have already put in place national support schemes to relieve households and businesses strangled by bills. Like France, which applies caps to energy prices, Germany announced on Thursday that it would release up to 200 billion euros more to limit gas and electricity prices.

Register free of charge for uninterrupted access.

Publicite

Recently published in

The United Kingdom is exploring the implementation of a new tax system for oil and gas producers to replace the superprofits tax, set to end in 2030.
On March 17 and 19, Saúl Luciano Lliuya, a Peruvian farmer, will face energy group RWE in court before the regional court in Hamm, in a climate responsibility case related to the melting of Andean glaciers.
On March 17 and 19, Saúl Luciano Lliuya, a Peruvian farmer, will face energy group RWE in court before the regional court in Hamm, in a climate responsibility case related to the melting of Andean glaciers.
EDF implements a system of auctions for long-term nuclear electricity contracts to stabilise prices and finance its nuclear projects. The first deliveries are scheduled for 2026.
EDF implements a system of auctions for long-term nuclear electricity contracts to stabilise prices and finance its nuclear projects. The first deliveries are scheduled for 2026.
The Canada Infrastructure Bank (CIB) has committed a CAD 217 million investment to support the construction of a transmission line between Nova Scotia and New Brunswick, enhancing the reliability of the interprovincial power grid.
The Canada Infrastructure Bank (CIB) has committed a CAD 217 million investment to support the construction of a transmission line between Nova Scotia and New Brunswick, enhancing the reliability of the interprovincial power grid.
According to a report by Wood Mackenzie, net energy-related emissions in the North American electricity sector are expected to drop by 20% by 2030, with significant impacts from renewable energy and transportation electrification.
Vincent Berger, High Commissioner for Atomic Energy, issues strong criticism of France's energy strategy for 2035, deeming the CO2 reduction target overly ambitious and warning of potential overproduction of electricity.
Vincent Berger, High Commissioner for Atomic Energy, issues strong criticism of France's energy strategy for 2035, deeming the CO2 reduction target overly ambitious and warning of potential overproduction of electricity.
Indonesia announces 40bn USD investment in 21 energy projects in 2025, aiming to increase refining capacity and replace LPG imports.
Indonesia announces 40bn USD investment in 21 energy projects in 2025, aiming to increase refining capacity and replace LPG imports.
The US Senate passed a resolution to repeal the methane emissions tax imposed on oil and gas producers, a measure that was part of the US Inflation Reduction Act of 2022.
The US Senate passed a resolution to repeal the methane emissions tax imposed on oil and gas producers, a measure that was part of the US Inflation Reduction Act of 2022.
China has missed a major carbon emissions target for 2024, despite record investments in renewable energy, according to recent data from the National Bureau of Statistics.
A roadmap for the decarbonisation of the Golfe de Fos site, aimed at attracting €20 billion in investments, has been signed by the State, the Provence-Alpes-Côte d'Azur region, and the Aix-Marseille-Provence metropolitan area.
A roadmap for the decarbonisation of the Golfe de Fos site, aimed at attracting €20 billion in investments, has been signed by the State, the Provence-Alpes-Côte d'Azur region, and the Aix-Marseille-Provence metropolitan area.
French Minister of the Economy Eric Lombard, along with several business organisations, praised the European Commission's proposals on societal and climate-related obligations for companies, but argued they need to be adjusted to better account for international competition.
French Minister of the Economy Eric Lombard, along with several business organisations, praised the European Commission's proposals on societal and climate-related obligations for companies, but argued they need to be adjusted to better account for international competition.
American Electric Power (AEP) and its affiliate Transource Energy will invest nearly $1.7 billion to improve reliability and transmission capacity across several states in the PJM region, including Indiana, Ohio, Virginia, and West Virginia.
American Electric Power (AEP) and its affiliate Transource Energy will invest nearly $1.7 billion to improve reliability and transmission capacity across several states in the PJM region, including Indiana, Ohio, Virginia, and West Virginia.
An unprecedented power outage affected 95% of the Chilean population, paralysing the country for several hours. The government has blamed the network management companies and announced a thorough investigation.
French Industry Minister Marc Ferracci warned that France would not meet the EU’s 90% emissions reduction target by 2040 unless the European Commission strengthens its support for industry.
French Industry Minister Marc Ferracci warned that France would not meet the EU’s 90% emissions reduction target by 2040 unless the European Commission strengthens its support for industry.
The European Commission has unveiled a €100bn plan to support European industries, lower energy costs, and simplify regulations to enhance competitiveness against US and Chinese markets.
The European Commission has unveiled a €100bn plan to support European industries, lower energy costs, and simplify regulations to enhance competitiveness against US and Chinese markets.
The European Commission has unveiled a plan to reduce energy costs by accelerating renewable energy projects and adjusting tariff structures, aiming to cut fossil fuel imports by €45bn by 2025.
The European Commission has unveiled a plan to reduce energy costs by accelerating renewable energy projects and adjusting tariff structures, aiming to cut fossil fuel imports by €45bn by 2025.
The UK's energy regulator, Ofgem, has launched a tender for the management and operation of a pre-built transmission link connecting the Sofia offshore wind farm to the UK’s onshore network.
The latest tax increases on oil companies in the North Sea are causing concern among several industrial players, who fear a decline in investment and production, while the government extends the exceptional taxation until 2030.
The latest tax increases on oil companies in the North Sea are causing concern among several industrial players, who fear a decline in investment and production, while the government extends the exceptional taxation until 2030.
After a massive power outage affecting more than 95% of the population, 90% of Chilean households regained electricity overnight from Tuesday to Wednesday. The country remains in shock following a failure that paralysed the power grid.
After a massive power outage affecting more than 95% of the population, 90% of Chilean households regained electricity overnight from Tuesday to Wednesday. The country remains in shock following a failure that paralysed the power grid.
The UK energy regulator, Ofgem, announces a 6.4% increase in household energy bills from April 1, attributed to the volatility of gas prices in international markets.
The UK energy regulator, Ofgem, announces a 6.4% increase in household energy bills from April 1, attributed to the volatility of gas prices in international markets.
Delivery times and costs for essential components needed to expand power grids have nearly doubled since 2021, complicating the development of infrastructure required to meet growing energy demand.
Enedis connected 5.5 GW of renewable energy and 5.1 GW of power for electric vehicle charging in 2024, marking a significant increase compared to 2023. These developments reflect the dynamics of the French market and the investments made to modernise the network.
Enedis connected 5.5 GW of renewable energy and 5.1 GW of power for electric vehicle charging in 2024, marking a significant increase compared to 2023. These developments reflect the dynamics of the French market and the investments made to modernise the network.
British Prime Minister Keir Starmer has announced an additional £200 million in funding to support the conversion of the Grangemouth industrial site in Scotland, which is set to close this summer.
British Prime Minister Keir Starmer has announced an additional £200 million in funding to support the conversion of the Grangemouth industrial site in Scotland, which is set to close this summer.
South Africa’s public utility Eskom has announced large-scale power cuts following failures at three coal-fired power plants. The situation highlights the company’s ongoing challenges in managing the national electricity grid.
South Africa’s public utility Eskom has announced large-scale power cuts following failures at three coal-fired power plants. The situation highlights the company’s ongoing challenges in managing the national electricity grid.

Advertising