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MNI BRIEF: Energy Plan To Bring Down Prices: Dombrovskis

(MNI) LONDON
(MNI) Brussels

The EU Commission has proposed minimum gas storage levels and joint-EU purchases of gas supplies in an effort to reduce rising prices, officials said Wednesday. The proposal would introduce a minimum 80% gas storage level ahead of next winter, which would rise to 90% in following years, as well as standing ready to set up a Task Force for joint-EU purchases of gas.

The Commission said that the Task Force would facilitate and strengthen the EU's international outreach to suppliers to help secure well-priced imports ahead of next winter and would be supported by a Steering Board, run by representatives of EU member states. The Task Force could even prepare the ground for future energy partnerships, looking beyond gas and LNG, to hydrogen and renewable energy supplies.

Brussels said the Task Force was inspired by the EU’s successful experience with joint purchases of vaccines during the Covid pandemic. EU leaders will discuss these various options at their summit in Brussels Thursday and Friday.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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