Business urged EU authorities to take support measures due to energy prices

BRUSSELS, September 13 — PRIME. European industry representatives called on the authorities to take immediate support measures amid high energy prices, according to a statement from energy-intensive industry representatives distributed by the association Eurofer.

Source: The EU continues to discuss the issue of limiting prices for Russian gas

“We call on the European leadership to provide the industry with immediate and clear support measures that can be quickly implemented to ensure the continued viability of operations in Europe,” it says.

The statement points out the pressure that rising electricity and gas prices are putting on inflation and the EU economy, threatening the competitiveness of European companies. This has already led to the closure of factories or a reduction in production in many sectors, the statement said.

“Every day the situation is getting worse with potential irreversible consequences for investment in Europe,” the document says.

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At the end of last week, EU energy ministers at an extraordinary meeting discussed a number of measures against the backdrop of high energy costs. These included limiting the price of gas imports, reducing electricity consumption during peak hours, limiting the profits of companies that generate electricity at low cost and receive windfall due to its high market value.

No final decisions were expected and were not made. The European Commission is due to present more concrete proposals on energy measures on Wednesday.

“In this context, we unfortunately lack a sense of urgency in a number of measures discussed at the Energy Council. Many of these measures require further elaboration, are formulated broadly and at times vaguely, and their application in industry is not clear,” the statement says.

Another extraordinary meeting of ministers to discuss the proposals of the EC on this topic has been convened for 30 September.

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