EU countries seek emergency solution to soaring energy bills
(VOVWORLD) - European Union countries' energy ministers meet on Friday to search for solutions from a long list of possible measures to shield citizens from sky-high energy prices as winter approaches.
 Gas installation is pictured at the Cavern Underground Gas Storage (CUGS) Kosakowo facility, near Debogorze, Poland April, 30. 2022. (Photo: REUTERS) |
The basis for the talks is a set of proposals made by European Commission President Ursula von der Leyen - among them, a price cap on Russian gas, a windfall levy on non-gas power plants, a bloc-wide cut in electricity demand, and emergency credit lines for power firms facing soaring collateral requirements.
EU diplomats said countries appeared broadly supportive of measures to provide liquidity for companies, and some had also backed curbing power demand.
Other proposals were more divisive. The price cap on Russian gas has so far failed to win support among a majority of countries, with some questioning how it would help curb prices given the low gas volumes Moscow is now sending to Europe.