EU Energy Ministers will meet to Address Recent Rise in Gas Prices

As countries recover from the COVID-19 epidemic, some governments, like those in Italy and Greece, have stated that they are exploring measures such as subsidies or price limits to protect citizens from rising expenses.

Energy ministers from European Union countries will meet on Wednesday to discuss Europe’s skyrocketing gas and power prices, as some governments prepare consumer protection measures.

Benchmark Since January, European gas prices have soared by more than 250 %.

As countries recover from the COVID-19 epidemic, some governments, like those in Italy and Greece, have stated that they are exploring measures such as subsidies or price limits to protect citizens from rising expenses.

Spain has encouraged the EU to coordinate a more concerted response, requesting direction from the European Commission on how member states can respond to price hikes without violating EU regulations.

Kadri Simson, the EU’s energy commissioner, said the EU was keeping an eye on the situation and “discussing what tools are at our disposal” to respond.

On Wednesday, EU ministers will hold their first debate on ideas to toughen EU climate change regulations, including suggestions to increase renewable energy’s role in the energy mix to 40% by 2030.

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