Energy prices in Europe are skyrocketing, the call for European measures to combat high electricity prices is getting louder. To this end, the energy ministers, including department head Leonore Gewessler (Greens), will meet in Brussels today, Friday. Five European Commission measures are under discussion, but the Czech Council presidency also has plans. Heated debates are guaranteed.
Among other things, it aims to divert excessive profits from many electricity producers and companies that do business with fossil fuels. Commission President Ursula von der Leyen also proposed setting a price cap for Russian gas supplies in the EU. Austria does not want to agree to a price cap for Russian gas “from the current perspective,” the Austrian Energy Ministry announced on Thursday.
A few days before the meeting, the Austrian federal government had decided to put a brake on the electricity price. The rate has thus been maximized until mid-2024. For the first time, the lighting must be visible on the December electricity bill. In concrete terms, the prize is sponsored up to a consumption of 2900 kilowatt hours. Until then, only 10 cents per kilowatt hour has to be paid.
Gas suppliers in trouble: the German state must help
A few hours before negotiations began, it was revealed that the ailing East German gas company VNG needed help from the German state due to skyrocketing energy prices. The company will submit an application for stabilization measures to the Ministry of Economic Affairs during the day, parent company EnBW announced on Friday. In addition to the Uniper Group, which is also in crisis, VNG is one of the largest German gas importers. Due to the cessation of Russian supplies, they have to buy gas on the market at exorbitant prices to meet their obligations.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
