EU preparing ‘emergency intervention’ in electricity market amid soaring prices

European Commission President Ursula von der Leyen speaks during a press conference after the College meeting on the 'Save gas for a safe winter' package at the EU headquarters in Brussels on July 20, 2022.

Ministers from the 27 member states are to come together for an extraordinary energy council next week to address the surge in energy prices, which have increased 10-fold in a year. The details of a potential reform of the EU’s energy market are currently unclear. European Commission officials are developing proposals to put before member states for their consideration later this week.

At the time of the system’s design, gas was considered a cheap and reliable fuel that would act as a fail-safe whenever electricity from renewable sources was insufficient.

IrishTimes Where are these clowns going to get energy from . This should have be thought of before funding the 2014 Ukraine right wing coup which led to this war with a country who supplies all over 40% of your energy needs .

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Germany wants power-market overhaul to dampen soaring pricesEconomy minister proposes tackling increasing energy costs by reforming power markets so prices no longer coupled to most expensive supplier
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