Soaring energy prices climb EU’s political agenda

(EurActiv, 7 Oct 2021) The European Union said on Wednesday (6 October) it will examine the way its power market is run and consider proposals to revamp regulations within the bloc, as it seeks to keep plans to tackle climate change on track amid record-high energy costs.

European electricity and gas prices have rocketed this year as tight gas supplies have collided with strong demand in economies recovering from the COVID-19 pandemic.

Energy prices topped the EU’s political agenda on Wednesday, with environment ministers and the European Parliament each debating the issue after country leaders discussed possible responses on Tuesday.

‘Toolbox’ of measures

The crisis has divided member states over whether and how Brussels should intervene.

“There is no question that we need to take policy measures,” EU Energy Commissioner Kadri Simson told the European parliament in Strasbourg.

The Commission will next week publish a “toolbox” of options for how governments and the EU could react. It will also launch a study into whether the EU’s power market is fit to deliver the bloc’s planned transition to green energy, Simson said.

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EurActiv, 7 Oct 2021: Soaring energy prices climb EU’s political agenda