EU energy crisis decision

The EU Commission has published the report prepared for the review of the emergency response to high energy prices and sent to the European Council.

In the report, it was noted that the rules introduced for the energy market last year, such as reducing electricity demand, limiting the income of energy producers and fixing retail electricity prices, contributed to the relaxation of the European energy markets.

“DOESN’T SEEM NECESSARY”

In the report, which states that supply and prices in the EU electricity market have changed significantly compared to last year, “extension of emergency measures does not appear necessary or advisable at this time.” expression was used.

In the report, it was stated that the EU Commission would not propose the extension of such energy crisis measures.

Recalling that electricity prices have already fallen below €80 per megawatt-hour, the report states that the electricity price increases seen throughout 2022 are unlikely to occur in the coming winter period.

“BRING A SERIOUS LOAD”

EU member states have implemented many support measures and programs against rising natural gas and electricity prices with the war and energy crisis between Russia and Ukraine last year. These energy subsidies place a serious burden on the public finances of member states.​

At TTF, the Netherlands-based virtual natural gas trading point with the deepest depth in Europe, natural gas prices are trading today at €28 per megawatt hour. This figure had risen to 350 euros last summer. (AA)