Fri. May 20th, 2022

Brussels, 24 March 2922

This Thursday, MEPs heard from the European Commission and the Council on plans for a Joint European Action for more affordable, secure and sustainable energy

In a plenary debate with MEPs, the European Commission outlined its latest proposals for ensuring the security of gas supply for next winter, mitigating the impact of price increases on households, and boosting renewable energy sources. The French Presidency, representing member states, said there is no immediate risk in terms of security of supply in oil and gas for Europeans.

Most MEPs advocated a faster deployment of renewables in order to make Europe independent from Russian fossil fuels. Some speakers called on EU member states to reduce energy taxation, and wanted the decoupling of electricity and gas prices. Others pointed to the effect of speculation on the energy market, emphasised the importance of reducing consumption, and proposed the introduction of additional taxation on energy companies benefiting from skyrocketing prices.

Catch up with the debate by VOD

Background

On Wednesday, the European Commission tabled a legislative proposal introducing a minimum 80% gas storage level obligation for next winter to ensure security of energy supply and rising to 90% for the following years, and a Communication setting out the options for market intervention at European and national levels and assessing the pros and cons of each option.

On 8 March 2022, the European Commission proposed a strategy to secure Europe’s independence from Russian fossil fuels well before 2030 – starting with gas – in light of Russia’s invasion of Ukraine.

The so-called “REPowerEU” plan envisages a series of measures to respond to rising energy prices in Europe and to replenish gas stocks for next winter.