MNI BRIEF: EC Calls For Rapid And Coordinated Energy Response

The EU Commission said Wednesday that member states can tackle the ongoing energy crisis with a new toolbox of measures, including emergency income support for vulnerable households, state aid for businesses and targeted tax cuts, all of which conform with the EU's legal framework. The Commission said priority should be given to "targeted measures that can rapidly mitigate the impact of price rises for vulnerable consumers and small businesses."

The EC said measures should be easily adjustable when the energy supply situation stabilises, which is expected to be in the Spring, adding it would also "examine" longer-term, more strategic measures to enhance the EU's energy markets, including boosting EU energy storage capacity and EU-level purchasing of gas reserves. It also said it would assess the current design of electricity markets.