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Germany's Scholz-I Think We Will See Quick Moves From EU On Energy Prices

EU

Speaking at a post-Cabinet meeting presser (see 1025BST, 1036BST bullets), German Chancellor Olaf Scholz states that, "I think we will see quick moves at the EU level on energy, faster than usual for Brussels".

  • An extraordinary Transport, Telecoms, and Energy Council meeting will take place in Brussels on 9 September, with the energy ministers of all member states in attendance. This will be the first such meeting since the EU went on its traditional August break.
  • An informal meeting of Economic Affairs and Finance Council (ECOFIN) meets for two days 9-10 September, where measures to alleviate pressure on consumers and businesses likely to feature prominently.
  • The European Parliament holds a plenary session in Strasbourg 12-15 September. On Wednesday 14 September at 0900CET (0300ET, 0800BST, 1500JST), Commission President Ursula von der Leyen delivers her annual State of the European Union speech to the plenary session. This is the major set-piece speech for the coming EU session, and issues around energy supply and prices likely to feature heavily.
  • On 29 August von der Leyen stated a package of support was forthcoming. Speaking in Slovenia, she said "The skyrocketing electricity prices are now exposing the limitations of our current market design. It was developed for different circumstances. That’s why we are now working on an emergency intervention and a structural reform of the electricity market."

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