The ministers of the European Union (EU) with the Energy portfolio agreed, this Friday, cuts in energy consumption at peak hours, as well as a tax on extraordinary profits of companies in the energy sector.
The decision, announced by the Czech Republic in its role as EU Presidency, is aimed at mitigating the rise in energy prices due to the war in Ukraine, which has caused record inflation in Europe as the winter.
“Agree! The ministers reached a political agreement on measures to mitigate high electricity prices: mandatory reduction of electricity demand, limitation of market income of inframarginal electricity producers and solidarity contribution of fuel producers fossil fuels”, announced the current Czech Presidency of the Council of the EU.
The regulation, proposed this month by the Commission and which this Friday received the political endorsement of the 27, provides for a 33% tax on the excess profits of fossil fuel companies, which will become a “solidarity contribution” to be redistributed among the most vulnerable, a cap on the benefits of low-cost electricity companies (renewables), and plans to reduce electricity consumption, voluntary (10% for general demand), and mandatory (5% in ‘peak hours’).
At a meeting in which Portugal is represented by the Minister for the Environment and Climate Action, Duarte Cordeiro, the 27 will now discuss political options to mitigate high gas prices, but no decision is expected this Friday, despite a large group from 15 member states. , including Portugal, have requested the imposition of a ceiling on the price of gas.
in update
Source: TSF
