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EU To Present Ideas To Decouple Power And Gas Prices

ENERGY

The European Commission plans to present a consultation paper in December on how to decouple power and gas prices for consumer bills, a senior EC official told the European Parliament’s energy committee today.

  • "The goal was to have targeted power market reforms that could be implemented quickly and provide a more permanent solution to consumer bills’ “excessive” dependence on highly volatile natural gas markets", the EC’s deputy director general for energy, Mechthild Worsdorfer, said.
  • It was important that any power market reforms and new policy measures did not increase gas demand, given the EU’s commitment to phase out Russian gas, she added.
  • European power prices have surged in the past 12 months as a result of high natural gas prices.
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