EU nations are making ready for joint gasoline buy – Final Minute World Information

The vitality ministers of the EU member states met in Prague, hosted by the time period chairman of the Czech Republic.

Making an announcement on the finish of the assembly, Czech Trade and Commerce Minister Jozef Sikela mentioned, “We’re targeted on excessive gasoline costs. We’d like a quick and efficient resolution. This isn’t a straightforward matter. Each nation has totally different concepts, totally different situations, totally different guidelines and totally different pursuits.” used the phrase.

“Power has been the primary difficulty within the EU.” Sikela mentioned that they mentioned delicate points comparable to rules and costs for electrical energy and gasoline markets on the assembly.

Indicating that they need to cope with the consequences of the developments within the vitality market on the financial system, Sikela mentioned, “There’s a basic settlement among the many ministers that till 2023, progress must be made within the joint gasoline provide.” he mentioned.

Stating that the member nations additionally agree on the problems of vitality saving and displaying solidarity in vitality, Sikela emphasised that they determined that the present value system in gasoline costs must be modified.

Sikela mentioned that the EU Fee will announce the subsequent new regulation proposals on this difficulty subsequent week.

“I firmly imagine that in the present day’s assembly has helped bridge the hole between member states and that we’re transferring in the direction of a standard resolution.” Sikela mentioned that additionally they mentioned the functioning of the electrical energy market and the way the market may very well be designed.

NO DECISION ON GAS CEILING PRICE

EU Fee Power Member Kadri Simson additionally acknowledged that they haven’t but decided on making use of a ceiling value to the gasoline utilized in electrical energy manufacturing.

“We are going to see over the weekend how we are going to proceed with the value cap on gasoline in electrical energy manufacturing.” Simson mentioned that he’ll announce the bundle containing new proposals within the area of vitality on October 18th.

Noting that he knowledgeable the ministers concerning the particulars of the bundle, Simson mentioned that they’re engaged on another methodology for gasoline costs, and that if that is accepted, it is going to be activated subsequent yr.

Stating that any intervention within the gasoline market shouldn’t improve the demand for this product, Simson emphasised that one of many choices is to determine a warning system that features the goal of lowering gasoline demand by 15 p.c.

“We are going to current a proposal that may facilitate joint gasoline purchases,” Simson mentioned. used the phrase.

The leaders of EU nations met in Prague final week to debate the vitality disaster.

The leaders mentioned points comparable to lowering demand and consumption, guaranteeing provide safety by conserving shares as full as attainable, and lowering vitality payments by practices comparable to ceiling costs.

As a part of the measures to cut back the vitality value, an settlement couldn’t be reached on the applying of a ceiling value to pure gasoline.

15 COUNTRIES WANT GAS CEILING PRICE

15 EU member states, together with France, Italy, Spain and Belgium, are asking the EU Fee to arrange a plan to impose a ceiling value on imported pure gasoline.

Germany, the Netherlands, Denmark and a few nations don’t favor the thought of ​​capping pure gasoline costs at this stage. These nations, that are of the opinion that imposing a ceiling value on gasoline will put the vitality provide safety in danger, consider that the applying could hurt the pure gasoline provide, particularly in winter.

The speedy rise in gasoline costs within the current interval destabilized the electrical energy market. Within the present system, the wholesale electrical energy value within the EU is set by the tip generator wanted to satisfy the whole electrical energy demand, and infrequently by costly pure gasoline vegetation that may be commissioned shortly.

These producing electrical energy from different sources additionally obtain the identical fee because the gasoline stations. Because of this, high-cost pure gasoline energy vegetation trigger the value of electrical energy to rise.