European Union (EU) energy ministers reached an agreement on Friday on measures to mitigate the rise in electricity prices, which skyrocketed with the war in Ukraine, the Czech EU presidency said.
Member States agreed to reduce electricity consumption and charge energy companies in an urgent effort to lower prices.
According to the message published on social media by the Czech EU presidency, an agreement has been reached on “mandatory reduction in electricity demand”, “restriction of revenues for electricity generating companies” and “solidarity contribution from fossil fuel producers”.
️ #TTE Energy | AGREEMENT! The ministers reached a political agreement on measures to moderate high electricity prices: mandatory reduction in electricity demand, a ceiling on market revenues of infra-marginal electricity producers and solidarity contribution from fossil fuel producers. pic.twitter.com/BLU4fxWNWj
– EU2022_CZ (@EU2022_CZ) September 30, 2022
Source: DN
