European energy ministers discuss rising energy prices
European energy ministers held an extraordinary meeting in Luxembourg, where they discussed rising energy prices and possible action at the national and EU level. They welcomed the European Commission's toolbox and called on the Commission to examine the wholesale electricity market reform in detail.
The ministers discussed the toolbox aimed at helping EU member states to cope with high energy prices, which was presented by the European Commission on 13 October and which sets out measures that the EU and its member states can take in order to address the direct impact of the current price hikes and further strengthen resilience to future shocks. They also discussed how action at the EU level could support and complement the short-term measures taken by EU member states to mitigate the impact of rising energy prices on citizens and businesses.
Minister of Infrastructure Jernej Vrtovec, who chaired the meeting, highlighted that the Slovenian Presidency convened the meeting of energy ministers to provide help, support and protection for European citizens and businesses in the face of rising global energy prices.
EU member states have short-term measures at their disposal, which they can use to address the situation immediately. Given the urgency of the situation, it is very important that these measures are coordinated and the European Commission’s communication has played an important role in this. We also discussed medium- and long-term measures designed to strengthen our energy system, making it more resilient and flexible. We have agreed that action is needed at both the national and EU level. Renewables are part of the long-term solution and not part of the problem. They are vital to reducing our energy dependence. Many countries also see nuclear energy as a long-term solution, as we believe that it will contribute, together with renewables, to achieving energy independence and climate targets.
Jernej VrtovecMinister of Infrastructure
Jernej VrtovecMinister of Infrastructure
He stressed that the participants in the discussion welcomed the Commission toolbox. He went on to say: "In the short term, we have all agreed that national measures are the most suitable for an immediate response. In this respect, the Commission toolbox allows for a coordinated approach at the EU level. The vast majority of EU member states are already making use of the toolbox, which shows that the measures are suitable."
The Minister added: "It is good to see that we all recognise that we have to protect our most vulnerable citizens. We have agreed that, in the short term, we need to put appropriate measures in place to fight energy poverty and protect the most vulnerable consumers in the EU. And we also have to protect EU businesses and SMEs." He indicated that he expects that it will be possible to address the preliminary report of the European Union Agency for the Cooperation of Energy Regulators on the situation on the electricity market during further discussions on this topic at the European Council meeting in December.
Minister Vrtovec pointed out that many delegations had called on the Commission to prepare proposals for complementary delegated acts on sustainable financing as soon as possible. "In the coming weeks, it will be important to clarify the role and importance of natural gas and nuclear energy in the EU taxonomy. I believe that in order to achieve the climate goals, it will be essential to take advantage of every available technology," added the Minister.
More information:
Transport, Telecommunications and Energy Council (Energy), 26 October 2021