EU energy ministers accepts emergency actions| MENAFN.COM

Friday, 02 December 2022 09:48 GMT

EU energy ministers accepts emergency actions


(MENAFN) EU energy ministers accepted on Friday on putting tax on the incomes of energy firms and cutting energy intake throughout peak hours.

“Ministers reached a political agreement on measures to mitigate high electricity prices,” the Czech administration, anticipating the turning presidency of the Council of EU, declared on its certified Twitter account.

The deal includes forced cuts of electricity request throughout peak hours, presents solidarity input for fossil fuel manufacturers, and limits revenues of firms that output electricity at worse prices, including nuclear or renewable energy manufacturers.

In line with the additional rules, EU nations are going to commit to an obligatory 5 percent cut of their electricity intake throughout highest hours and a whole goal of a 10 percent decline among December this year and the end of March next year.

The EU is going to also “cap revenues at 180 euros/MWh for electricity generators” that “have made unexpectedly large financial gains over the past months, without their operational costs increasing,” the Council stated in a press meeting.

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