The measures agreed by the energy ministers.
A political agreement regarding measures to moderate high electricity prices was reached on Friday energy ministers of the European Union at the extraordinary Brussels Council. The measures were announced on Twitter by the Czech presidency.
The measures are as follows:
- Mandatory reduction in electricity demand
- Cap on market revenue from low-cost power producers and
- Solidarity contribution from fossil fuel producers.
⚡️ #TTE Energy | DEAL!👏 Ministers reached a political agreement on measures to mitigate high electricity prices: mandatory electricity demand reduction, cap on market revenues from inframarginal electricity producers and solidarity contribution from fossil fuels producers. pic.twitter.com/BLU4fxWNWj
— EU2022_CZ (@EU2022_CZ) September 30, 2022
The Minister of Environment and Energy expressed his optimism that “Europe will support and ensure social cohesion in the face of Russia’s military and energy adventurism”, Kostas Skrekasattending the extraordinary council of competent ministers in Brussels.
“Last March, Greek Prime Minister Kyriakos Mitsotakis sent a letter to President Ursula von der Leyen, requesting the imposition of a cap on natural gas. Today, 15 member states support the Greek proposal, the proposal of the Greek Prime Minister, and ask the European Commission to present bold and decisive proposals”, stressed Mr. Skrekas.
In particular, he said: “Today’s Council of Ministers of Energy is taking place at a particularly critical time, as the energy issue is intensifying in Europe, in view of the upcoming difficult winter, which fills households and businesses with anxiety. Last March, Greek Prime Minister Kyriakos Mitsotakis sent a letter to President von der Leyen, requesting the imposition of a cap on natural gas. Today 15 member states support the Greek proposal, the proposal of the Greek Prime Minister and ask the European Commission to present bold and decisive proposals. I am optimistic that Europe will support and ensure social cohesion in the face of Russia’s military and energy adventurism. However, it is a supreme issue of humanitarian and democratic values that we all move forward together.”
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