Energy: EU agrees on emergency measures to reduce bills – Le Figaro

Part of energy producers’ ‘superprofits’ will be redistributed to consumers. EU energy ministers reached agreement on Friday on emergency measures to help EU households and businesses deal with skyrocketing bills , but many believe that it is necessary to go even further as winter approaches. Officials validated proposals presented in mid-September by the European Commission, aimed at recovering part of the “superprofits” of energy producers to redistribute them to consumers, and imposing a reduction in electricity demand at peak times. peak. But they are still divided on a cap on the price of gas imports, which comes up against German reluctance in particular. “There is no time to lose” to bring down the price of gas, urged Czech Energy Minister Jozef Sikela, whose country holds the EU Council Presidency. Recent leaks on the Nord Stream 1 and 2 gas pipelines in the Baltic Sea, denounced by the EU as acts of “sabotage”, have further increased tension in the European bloc, already shaken by soaring prices linked to the war. triggered by Russia in Ukraine. Read also Euro zone: inflation jumps to 10% in September, new record The emergency measures endorsed on Friday set a binding target for States to reduce their electricity consumption “by at least 5% » during peak hours. The Twenty-Seven are also called upon to reduce their monthly electricity consumption by 10%, an indicative objective. Another measure: the ceiling on the income of electricity producers from nuclear and renewable sources (wind, solar, hydroelectric) who reap exceptional profits by selling their production at a price much higher than their production costs. This ceiling is set at 180 euros per megawatt hour and the difference between this level and the wholesale market price must be recovered by the States to be redistributed to households and businesses. A “temporary solidarity contribution” also applies to producers and distributors of gas, coal and oil. “We must act now” In total, revenues of around 140 billion euros could thus be donated, according to the President of the European Commission, Ursula von der Leyen. But a majority of Member States – fifteen, including France, Belgium, Italy and Spain – consider that the “most serious problem” still needs to be tackled: they are calling for a cap on wholesale prices gas on the European market. These countries want the measure to apply to all gas imports, not just those from Russia. For the Czech minister, the Commission must act quickly: “We are in an energy war with Russia, winter is coming and we must act now (…), not in a month.” , like Germany, is reluctant to put such a measure in place, fearing that limiting prices will threaten European supplies by dissuading “reliable partners” such as Norway or the United States from delivering the EU in gas, for the benefit of other destinations. Estonian Minister Riina Sikkut also spoke out against this idea, saying that “gas availability and security of supply were more important than price”. In a preparatory document, the Commission proposed setting a maximum price for Russian gas – transported by pipeline or liquefied natural gas (LNG) – which currently represents 9% of European imports. Russia was historically the EU’s biggest gas supplier, bringing more than 40% of gas to the bloc. Brussels is counting on negotiations with the other suppliers of gas transported by pipeline, but believes that for LNG, the ability to negotiate is limited by international competition. The Commission is also considering capping the price of gas used for electricity generation. These options are being discussed by the ministers and should give rise to a more detailed plan, before a summit of the leaders of the Twenty-Seven on October 7 in Prague and a new meeting of energy ministers on October 11-12. go further on these subjects and we must conclude more quickly”, also estimated the French Minister Agnès Pannier-Runacher. Many EU countries have already put in place support schemes at national level to relieve households and businesses strangled by bills. Like France, which applies caps to energy prices, Germany announced Thursday that it would release up to 200 billion additional euros to limit gas and electricity prices.