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CE prepares electricity savings and energy tax and discusses cap on gas

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The European Comission worked this Saturday on the proposals that it will present on Tuesday to deal with the high price of electricityputting the “emphasis” on saving electricity consumption, a tax on energy companies and helping companies with difficulties, while also discussing a cap on the cost of gas.

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This was announced by the President of the Community Executive, Ursula von der Leyen, on her official Twitter account, after the meeting held this Friday in Brussels by the Ministers of Energy of the European Union.

“The emphasis of our work ahead of the College of Commissioners meeting in Strasbourg was smart (demand) reduction, contributions from the energy sector to support vulnerable households and businesses, and support for business liquidity” von der Leyen said.

The German also stated that this Saturday’s meeting focused on “accelerating” Brussels’ strategy to reduce dependence on Russian gas and encourage renewable energy.

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As for the possible cap on the price of gas, Von der Leyen said that Brussels “continues to work on responses adapted to the global market.”

The energy ministers agreed this Friday to reduce electricity consumption and tax the profits of energy companies and asked the Commission to design a “temporary emergency intervention” in the electricity market, for example through a limit on the price of gas in the formation of electricity prices.

The Spanish Vice President and Minister of Ecological Transition, Teresa Ribera, affirmed this Friday, however, that the possibility of imposing a price on Russian gas that the European Union imports by gas pipeline remained “open”, due to Hungary’s rejection and the doubts that generated in countries like Germany.

Ribera assured that “we must continue working” on the proposal to define, in addition, how it would affect other gas producers such as Algeria or Norway.

“The objective -said Von der Leyen today- is to achieve low prices in Europe while guaranteeing security of supply”.

Source: Gestion

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