Summary
This joint letter to the Czech Presidency of the Council of the European Union highlights the severe impact of the ongoing energy crisis on energy-intensive industries within Europe. These industries are experiencing significant challenges due to the extreme volatility and high prices of gas and electricity, exacerbated by market concentration on the supply side. This has led to the shutdown or reduced production of many industrial plants, which has increased Europe’s dependency on external markets and heightened global carbon emissions. The letter calls for urgent EU-wide measures to limit natural gas prices and disconnect electricity prices from gas prices, as well as adjustments to the temporary crisis state aid framework.
Key Takeaways:
- Urgent need for EU-wide measures to limit natural gas prices and disconnect electricity prices from gas prices.
- Immediate adjustment of the temporary crisis state aid framework to reflect the current energy crisis. Prolonged production disruptions risk increasing Europe’s dependency on external markets and global carbon emissions.