Energy cost summit – EU: No response to acutely high electricity and gas prices – News

Energy cost summit – EU: No response to acutely high electricity and gas prices – News
Energy cost summit – EU: No response to acutely high electricity and gas prices – News


An analysis by Charles Liebherr

The European Union can do little about the current high energy prices – but its member states can. This was shown at the summit of EU heads of state and government on Thursday evening in Brussels.

Despite long discussions, no clear common strategy can be identified. This is an encouraging sign for advocates of a more liberal electricity market and for EU countries that promoted alternative energy sources earlier and more consistently.

EU Commission had recorded the way

Europe must radically rethink its energy supply. The dependence on third countries for oil or gas is too great. In the EU it is 90 percent and more. This can only succeed in the future with massive funding of cheaper solar and wind power. But that is not the answer to the acutely exploding gas and electricity prices.

That is why numerous EU countries are now calling for quick exercises. Sometimes Poland and Hungary want to postpone European climate policy because of this. You blame the agreed climate targets for the price surge and speculation in CO2 emissions trading. However, according to the market supervisory authority, there is no evidence of this.

Other countries such as Spain, Cyprus or Greece would like more state intervention in the energy market at European level. In the future, gas is to be purchased and stored in Europe. So far there has only been a European strategic reserve for oil to absorb price shocks.

27 states, 27 types of energy supply

Both proposals express a short-term desperation and impotence that members of governments find difficult. In addition, the 27 EU countries cover their energy needs in 27 different ways. That alone prevents hasty decisions.

In the past, this ensured relatively stable prices in the EU’s energy supply and now rewards those who are more consistently looking for a turnaround in energy supply. Because the lower the dependency on gas for electricity production and the higher the share of wind and solar power, the lower the price level.

However, the different positions among the EU states are not a cause for concern. They guarantee that the EU will not deviate from the path it has taken when it comes to energy policy and thus climate policy.

Charles Liebherr

France correspondent, SRF

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Charles Liebherr has been the France correspondent for Radio SRF since 2014. Liebherr studied history, German literature and linguistics, and political science in Basel and Lausanne. Before that, he worked as a business editor at Swiss radio, among other things.


Energy cost summit response acutely high electricity gas prices News

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