On Friday the finance ministers of the G7 will meet, while on September 9 an extraordinary meeting of the EU energy ministers will be convened
An alarm has been raised in Europe by the rally in electricity and natural gas prices that threaten households and businesses with financial strangulation. In this context, the EU is looking for -advanced- solutions to reverse the… game that Russia is playing by reducing or even closing the gas tap from time to time by considering measures on two axes.
Already, the Czech Republic, which holds the presidency of the European Union this semester, has convened an Emergency Council of Energy Ministers for September 9, where they will discuss both the imposition of a ceiling on the price of natural gas and a more general restructuring of the energy market by decoupling the price of natural gas from that of electricity.
The ceiling on the price of gas means that Europe as a whole will decide on a maximum price, above which it will refuse to buy the Russian energy product.
In fact, the Greek Minister of Energy and Environment, Kostas Skrekas, speaking to SKAI yesterday, said that he sent letters to his 26 counterparts, in which he describes the Greek proposal for a mechanism to recover excess revenues from power generation companies, which has been implemented in Greece for two months with important results. “For August, we have recovered almost 900 million euros from the power generation companies and have led them to the energy transition fund to subsidize the bills of the Greeks,” he said characteristically.
He also described the Greek proposal for a new European mechanism, permanent, to decouple the price of electricity from the price of natural gas so that households have cheaper electricity.
When asked if the support will continue throughout the next period, he answered positively, saying that “we have drawn up scenarios for support for the entire next period when this exogenous energy crisis will continue”. However, he added that the budget limits are finite, but the government will use every possibility to support the society.
He noted with emphasis that Europe should also take measures, characteristically declaring “better late than never”.
Meanwhile, G7 finance ministers will meet on Friday and discuss the US government’s proposal to impose a ceiling on the price of Russian oil.
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