EU chief to focus on energy crisis at upcoming summit

BRUSSELS, 18 Oct – PRIME. The summit of heads of state of the European Union on October 20-21 will focus on energy issues, discuss price limits, according to the letter of invitation of the head of the European Council Charles Michel to the participants of this meeting.

Media: EU will refrain from imposing a ceiling on gas prices

“The energy crisis is at the center of our agenda… we must intensify our three lines of action without fail: demand reduction, supply security and price containment. Our meeting will be an opportunity to explore additional measures that can bring prices down,” Michel wrote.

These include joint purchases of gas, the development of a new benchmark that would more accurately reflect the state of the gas market, and the study of a “temporary dynamic price cap,” the letter says.

“I also expect that we will consider other short-term and long-term market interventions, such as the EU mechanism to cap the price of gas for electricity production,” said the head of the European Council.

“I am confident that, despite various national restrictions, we will approach our energy debate in a constructive manner, keeping our urgent collective interests in mind,” he added.

Earlier it was reported that the European Commission will present proposals to the EU countries on joint gas purchases and the creation of a new benchmark on Tuesday.

In addition, Michel intends to discuss with the leaders assistance to Ukraine in preparation for the winter season.

“At this meeting, I would like to discuss the provision of assistance to Ukraine, in particular, to consider the most urgent needs of Ukraine in terms of preparing for the winter, as well as the stability of our medium and long-term assistance,” his letter says.