Business Standard

EU leaders agree on roadmap to protect consumers from rising energy prices

Leaders of the European Union (EU) member states have agreed on a 'roadmap' of measures to protect European consumers from soaring energy prices

Photo: Bloomberg

(Photo: Bloomberg)

IANS Brussels

Leaders of the European Union (EU) member states have agreed on a 'roadmap' of measures to protect European consumers from soaring energy prices.

The agreement was reached after several hours of discussions over proposals to lower energy bills, which have skyrocketed due to the ongoing war between Russia and Ukraine, reports Xinhua news agency.

Click here to connect with us on WhatsApp

The summit agreement sets out a "solid roadmap to keep on working on the topic of energy prices", European Commission president Ursula von der Leyen said while addressing a press conference here on Friday.

"The European Council has agreed that in light of the ongoing crisis, efforts to reduce demand, to ensure security of supply, to avoid rationing, and to lower energy prices for households and businesses across the Union need to be accelerated and intensified, and the integrity of the Single Market has to be preserved," said the published summit conclusions.

 

Leaders called on energy ministers and the European Commission to "submit concrete decisions" on a "temporary dynamic price corridor on natural gas transactions" that would limit price spikes, and a price cap on gas used to generate electricity.

EU leaders also agreed to push forward on plans to buy gas through a joint platform before next winter.

--IANS

ksk/

 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 22 2022 | 12:22 PM IST

Explore News