• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

Soaring energy prices climb up EU’s political agenda

October 6, 2021 by David Barret Leave a Comment

October 6, 2021

By Kate Abnett

BRUSSELS (Reuters) – The European Union said on Wednesday it would scrutinise its power market design and consider proposals to revamp EU regulation, as the bloc seeks to keep its plans to tackle climate change on track amid record-high energy costs.

European electricity and gas prices have rocketed higher this year as tight gas supplies have collided with strong demand in economies recovering from the COVID-19 pandemic.

Soaring energy prices topped the EU’s political agenda on Wednesday, with environment ministers and European Parliament each meeting to debate the issue, after EU country leaders discussed their response on Tuesday evening.

“There is no question that we need to take policy measures,” EU energy commissioner Kadri Simson told the EU’s parliament.

The crisis has divided countries over whether Brussels should intervene. The Commission will next week publish a menu of options for how governments and the EU could react.

Simson said the Commission would launch a study into whether the EU’s power market was fit to deliver the bloc’s planned transition to green energy. Spain and France have called for a revamp of EU electricity regulation to decouple the price of power from the cost of gas.

“We believe this framework is sound, but we see the challenges,” Simson said.

Spanish Prime Minister Pedro Sanchez said he and other countries had asked Brussels to offer an “audacious” response.

“We need extraordinary, innovative measures … we have asked for a joint purchase of gas,” he said.

Not all countries are convinced. EU regulators expect gas market conditions to ease in spring and some governments say the issue is best treated with national subsidies and tax breaks to cushion consumers from high bills – measures many countries have rolled out.

“It’s mainly something for the member states to address,” Dutch Prime Minister Mark Rutte said. “We should look at what Europe can do collectively. There are proposals – some wilder, others less wild.”

The price spike has arrived as the EU prepares for a major upgrade of climate policies, stoking concerns among poorer central and eastern EU states that steps to increase the cost of polluting fuels could push more households into energy poverty.

Brussels is determined to ensure the price spike will not derail its plan to slash emissions and has proposed a multi-billion-euro fund to help poorer households invest in green options.

“Let’s keep our eye on the ball. The problem here is the climate crisis,” EU climate policy chief Frans Timmermans said. “The quicker we move towards renewable energy, the quicker we can protect our citizens against high prices.”

(Reporting by Kate Abnett, Robin Emmott, Marine Strauss, Philip Blenkinsop; Editing by John Chalmers and Edmund Blair)

Source Link Soaring energy prices climb up EU’s political agenda

David Barret
David Barret

Related posts:

  1. Apple M1X MacBook Pro might drop as early as October
  2. Monte dei Paschi prepares to close 50 branches – letter to unions
  3. Billions blown as Macau casino investors fold amid gambling review
  4. Cyclone Shaheen approaches Oman, flights delayed

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • If Birds Are Dinosaurs, Why Are None As Big As T. Rexes?
  • Psychologists Demonstrate Illusion That Could Be Screwing Up Our Perception Of Time
  • Why Are So Many Enormous Roman Shoes Being Discovered At Hadrian’s Wall?
  • Scientists Think They’ve Pinpointed Structural Differences In Psychopaths’ Brains
  • We’ve Found Our Third-Ever Interstellar Visitor, Orcas Filmed Kissing (With Tongues) In The Wild, And Much More This Week
  • The “Eyes Of Clavius” Will Be Visible On The Moon Today, Thanks To Clair-Obscur Effect
  • Shockingly High Microplastic Levels Found On Remote Mediterranean Coral Reef Island
  • Interstellar Object, Cheesy Nightmares, And Smooching Orcas
  • World’s Largest Martian Meteorite Up For Auction Could Reach Whopping $2-4 Million
  • Kimalu The Beluga Whale Undergoes Pioneering Surgery And Becomes First Beluga To Survive General Aesthetic
  • The 1986 Soviet Space Mission That’s Never Been Repeated: Mir To Salyut And Back Again
  • Grisly Incident In Yellowstone National Park Shows Just How Dangerous This Vibrant Wilderness Can Be
  • Out Of All Greenhouse Gas Emitters On Earth, One US Organization Takes The Biscuit
  • Overly Ambitious Adder Attempts To Eat Hare 10 Times Its Mass In Gnarly Video
  • How Fast Does A Spacecraft Need To Go To Escape The Solar System?
  • President Trump’s Cuts To USAID Could Result In A “Staggering” 14 Million Avoidable Deaths By 2030
  • Dzo: Hybrids Beasts That Are Perfectly Crafted For Life On Earth’s Highest Mountains
  • “Rarest Event Ever” Had A Half-Life 1 Trillion Times Longer Than The Age Of The Universe – How Did We See It?
  • Meet The Bille, A Self-Righting Tetrahedron That Nobody Was Sure Could Exist
  • Neurogenesis Confirmed: Adult Brains Really Do Make New Hippocampal Neurons
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version