The European Commission will propose a mandatory reduction in electricity consumption within the European Union during peak hours.
The European Commission will propose a price threshold for Russian gas, as well as a mandatory target for reducing EU electricity consumption during peak hours, Ursula von der Leyen told a press conference on Wednesday.
Among the proposals, the European Commission president further outlined the introduction of a revenue cap on low-cost electricity generation companies in the European Union, as well as a “solidarity contribution” from fossil fuel companies. As she argued, “all energy sources must help solve this crisis.”
Price cap on Russian gas
The politician also pointed to an issue that has been much discussed recently. “We will propose a price cap on Russian gas. We need to cut Russian revenues, which Putin is using to finance this vicious war in Ukraine,” von der Leyen said, explaining such a move by saying that Putin is “manipulating our energy markets.
Mandatory energy cuts
As reported by Reuters news agency, a draft document that the European Commission has drawn up shows that Brussels envisages a plan to introduce an EU cap of 200 euros per megawatt hour on the price of electricity from generators that do not run on gas.
The EC is developing emergency measures in this regard to bring down the rising cost of gas and electricity this winter. The Commission’s draft proposal, also includes a target for countries to reduce electricity consumption by 10 percent each month compared to the same period over the past five years.