Excess profits of energy companies should be rechanneled to support vulnerable households, von der Leyen saysEuropean Commission President Ursula von der Leyen said there should be a 'mandatory' reduction of electricity use at peak times.
“We will propose a cap on the revenues of companies that are producing electricity with low costs,” the Commission chief told journalists ahead of a meeting of the 27 member state energy ministers on Friday to consider a sweeping EU-wide intervention on energy markets. “We will propose to rechannel these unexpected profits... so that the member states can support the vulnerable households and vulnerable companies.”
In addition, “we will propose a mandatory target for reducing electricity use at peak hours,” Ms von der Leyen said. In the EU, gas and electricity plants are activated at peak times to cope with surges in demand, meaning that if usage is reduce at those moments, the use of expensive gas can be avoided.
The Commission will ask member states to introduce “smart” energy savings, limiting the use of electricity at peak hours.
cambsforeurope Except in Britain where the oil companies’ excess profits are channelled into the pockets of Tory government pals.
Stop fueling the war by sending billions to Ukraine might help & the Irish media showing millions marching against Eu leaders being puppets for the Us proxy Economic war against Russia China Iran .
Maybe they could have used the money they threw at pharma companies for endless rounds of pointless vaccines.
What is excess exactly
Could she send and email to her friends in pfizer to do the same for the customers who took there dodgy vaccines or is Emily oreilly keeping an eye on her
She is talking her dreams.
In other news....Our Dail is made up of a majority who are Criminals