EU countries agree power demand reduction targets, new levies to tackle energy crisis

(EurActiv, 30 Sep 2022) EU ministers on Friday (30 September) agreed on new emergency measures to tackle the energy crisis, including a mandatory target to reduce electricity consumption by 5% at peak hours and two new revenue-creating levies to help protect consumers.

The measures, proposed by the European Commission on 14 September, aim at shielding consumers by seizing the extraordinarily profits made by some energy firms and using those to support households or help them invest in green technologies.

“Our citizens and businesses are eagerly waiting for the EU to come up with concrete proposals on how to take on currently extremely high energy prices,” said Jozef Sikela, the industry and trade minister from the Czech Republic, which currently holds the EU’s rotating Council presidency.

“The agreement reached today will bring relief to European citizens and companies. Member states will flatten the curve of electricity demand during peak hours, which will have a direct positive effect on prices. Member states will redistribute surplus profits from the energy sector to those who are struggling to pay their bills,” he said in a statement outlining the main elements of the deal.

EU countries agreed the proposals in around two weeks, after several meetings to hash out the details. In the end, they agreed on the three measures, but included more flexibility for member states to implement them.

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EurActiv, 30 Sep 2022: EU countries agree power demand reduction targets, new levies to tackle energy crisis