Sakova: EU Fails to Agree on Steps to Tackle High Electricity Prices

Brussels/Bratislava, 16 March (TASR-correspondent) – EU member states failed to reach a compromise on how to address soaring electricity prices, Economy Minister Denisa Sakova (Voice–SD) stated on Monday evening after a session of the EU Council for Energy, TASR learnt from its special correspondent in Brussels. Energy ministers from EU member states also discussed in Brussels on Monday how to secure lower energy prices following the rise in oil and gas prices that occurred after air strikes on Iran. Sakova recalled that Europe is losing competitiveness due to high energy prices compared with the United States and China, adding that the issue will also be discussed by heads of government and state at the EU summit on Thursday (19 March). "Today we expected to reach some kind of consensus, a proposal that energy ministers could submit so that leaders would be able to decide on individual measures. We did not reach such a consensus," the minister said. According to Sakova, Western European countries favour the view that each state should adjust energy and electricity prices on its own. This would mean adjusting VAT and, in the case of fuel prices, also excise duties. "We believe such measures are not sufficient. Central and Eastern European countries were inclined towards resetting the emissions trading system, because emission allowances significantly influence electricity prices," she said. She specified that clear disproportions exist among EU countries and that the European electricity market does not function entirely fairly for all. mf