The best way to tackle high energy costs is to put a cap on gas prices, said Eurelectric’s general secretary Kristian Ruby. In fact, Eurelectric sent a letter to the European Commission calling for a limit to gas prices as the best solution to deal with high prices and to protect consumers.
The measure is the least painful and will keep energy prices at sustainable levels in EU markets. and will provide protection to consumers, says Ruby, adding that instead taxing corporate emergency profits is the worst option as it will destroy investor confidence.
Fiscal measures such as consumer aid could result in everything being financed with public subsidies while not restricting the outflow of money to Russian energy companies.
Eurelectric has not reached a level where the price limit for natural gas should be set, but emphasizes that there are two options: a radical reduction in demand, where no gas is bought above the price limit to be set, and the purchase of more gas. with public funds.
In the letter from Eurelectric to the Commission, in order to address the unprecedented situation that has arisen, the following is proposed:
– Give higher priority to the electrification of the economy to achieve carbonization and energy independence
– Maintain investment confidence and strengthen markets especially now during the current crisis and finally
Take the necessary short-term measures to protect consumers, including the imposition of a gas price cap.
Source: Capital
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