The differences between the two camps remain chaotic in the “27” for the ceiling on natural gas – The new proposal, revealed by the Italian La Stampa, assumes a significant burden on the budgets
The thriller with the natural gas ceiling, which the 27 of the European Union are discussing to implement, takes on new dimensions. On the one hand, the escalation caused by the ceiling on Russian oil with Moscow, and on the other hand, the chaotic, as it turns out, differences between the Europeans on a decision regarding the ceiling on the price of natural gas, make the next period critical and test even this cohesion of the European Union, as it is established that local interests prevail over overall law.
In an environment in which Greece and 13 other countries are pushing and have submitted a written proposal to the Commission for a sustainable ceiling on the price of natural gas and the European north (Germany, the Netherlands, etc.) reacting and rejecting the ceiling as a solution, projecting as a way out for the drop in price, the decrease in demand, a new proposal comes to be added to the negotiation table, complicating the situation even more.
According to the Italian La Stampa, on Tuesday at ECOFIN, a proposal to define a ceiling on the retail sale price of natural gas will be considered by the EU finance ministers. The big question in this proposal is this: Who will make up the difference? The State; Or the consumers in an indirect or direct way?
And in this proposal, the problem of the energy crisis hits the poorer countries, like Greece, more, which do not have the fiscal air to cover the differences in the retail price of natural gas, even more so, since there is no agreement on the wholesale price either.
The finance ministers, according to La Stampa, will be asked to examine whether the countries’ budgets (ie the peoples) will be able to withstand the burden. Therefore, new data will be created, in view of the Summit on the 19th of the month, but also the conference of the Ministers of Energy, on the 13th of December.
Von der Leyen: Europe is safe for this winter
“We are safe for the winter” emphasized the President of the European Commission, Ursula von der Leyenreferring to the energy crisis in a speech at the College of Europe in Bruges.
Ms. von der Leyen noted that “the world’s energy supply is limited because of Russia’s aggressive war.”
He added that the Russia cut off 80% of Europe’s pipeline gas supply in just eight months.
“But we were able to make up for it,” said the President of the Commission, speaking of something “remarkable” and something “that many considered impossible.”
“In these eight months, not only have there been no power cuts in Europe, but we have also managed to fill our gas storages by around 96%. We are safe for the winter. But this comes at the cost of higher energy prices. And all this affects the competitiveness of many European industries – especially the energy-intensive sectors of our economy” he pointed out.
In addition, Ursula von der Leyen emphasized that “an aggressive Russia threatens our democracies and blackmails us with our dependence on fossil fuels”, while regarding Beijing she noted that “an increasingly assertive China is cultivating dependencies on all continents , to project power for its own interests.” On the opposite side, Ms von der Leyen placed Europe and the US. “Instead, look at what the US and Europe can achieve if we join forces. Take Ukraine. Consider the massive impact of our sanctions.
Think about how much support we have mobilized, from our countries and the world, to help Ukraine in the last nine months” he noted and gave the decision on the oil ceiling as an example.
EU countermeasures needed for US ‘grants package’
The European Union must adjust its state aid rules to prevent an investment exodus due to a new green energy subsidy package in the US, the president of the European Commission said today.
“Competition is good… but this competition must be on equal terms,” said the president of the Commission, Ursula von der Leyenin a speech in the Belgian city of Bruges.
“The (US Inflation Reduction Act) should make us think about how we can improve our government aid frameworks and adapt them to a new global environment,” he added.
The 27-member Union fears that the $430 billion Inflation Reduction Act (IRA). with its generous tax cuts it could attract EU businesses and disadvantage European companies, from carmakers to green-tech manufacturers.
The issue is on the agenda of the EU-US Trade and Technology Council meeting to be held on 5 December.
The meeting will be attended by US Secretary of State Anthony Blinken, Commerce Secretary Gina Raimondo and US Trade Representative Catherine Tye along with European Commission Vice Presidents Valdis Dombrovskis and Margrethe Vestager.
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