Energy prices
The Commission presents a toolbox of measures to address the exceptional situation and its effects
The Commission has today adopted a Communication on energy prices to address the exceptional increase in global energy prices, which is expected to last throughout the winter, and to help European citizens and businesses. The Communication sets out a "toolbox" that the EU and its Member States can use to address the immediate effects of the current price increases and to strengthen resilience to future price shocks. Short-term national measures include income support for households in emergency situations, state aid for businesses and targeted tax breaks. The Commission will also support investments in renewable energy and energy efficiency, examine possible measures on energy storage and the purchase of gas reserves, and assess the current design of the electricity market.
Immediate measures to protect consumers and businesses, aimed at:
- provide emergency income support to energy-poor consumers, for example through vouchers or partial payment of bills, which can be supported by revenues from the EU emissions trading scheme;
- allow temporary payment deferral
- introduce protective measures to avoid grid disruptions
- introduce temporary, targeted reductions in tax rates for vulnerable households
- provide support to companies or industries in accordance with EU state aid rules;
- increase international outreach in the energy field to ensure transparency, liquidity and flexibility in international markets
- investigate possible anti-competitive behaviour in the energy market and ask the European Securities and Markets Authority (ESMA) to strengthen monitoring of developments in the allowance market;
- Promote wider access to renewable electricity purchase agreements and support them through accompanying measures.