Energy prices and security of supply: Council agrees to extend emergency measures

Brussels: The ministers on Tuesday reached a political agreement on extending the period of application of three emergency Council regulations adopted under article 122 of the Treaty on the Functioning of the EU, designed for emergency situations.

The emergency measures were adopted last year due to Russia’s war of aggression against Ukraine, in order to enhance solidarity between member states, accelerate the deployment of renewable energy and protect EU citizens from excessively high energy prices.

The extension of the three emergency measures is necessary to address a still-fragile situation in the EU following Russia’s invasion of Ukraine. This will allow us to ensure the stabilisation of the energy markets, alleviate the effect of the crisis and protect EU citizens from excessive high energy prices.

Regulation (EU) 2022/2576 enhancing solidarity through better coordination of gas purchases, reliable price benchmarks and exchanges of gas across borders includes temporary emergency measures designed to bring down high energy prices and improve gas supply security.

Ministers agreed to delete article 10 on mandatory participation in demand aggregation.

The emergency regulation applies from 30 December 2022 for a period of one year. EU energy ministers agreed to extend the regulation for one more year, until 31 December 2024.

Regulation (EU) 2022/2577 laying down a framework to accelerate the deployment of renewable energy aims to tackle the energy crisis, reduce the EU’s dependence on Russian fossil fuels and further advance the EU’s climate objectives by accelerating the permit-granting process for and the deployment of renewable energy projects.

The regulation applies from 30 December 2022 for a period of 18 months.

Ministers agreed to extend the period of application of certain amended provisions of the regulation until 30 June 2025. Unlike the other two emergency regulations, amendments go beyond the mere extension of the period of application of the regulation.

Regulation (EU) 2022/2578 establishing a market correction mechanism to protect EU citizens and the economy against excessively high prices establishes a system of temporary measures to prevent spikes of excessively high gas prices in the EU that do not reflect prices on the world market.

Ministers agreed to prolong the period of application of the regulation, as proposed by the Commission, and they maintained its substance.

The regulation applies from 1 February 2023 for a period of one year and it will be extended for one more year, until 31 January 2025.