Press "Enter" to skip to content

Von der Leyen aims to delink gas prices from electricity

Riga, Oct 5 (EFE) .- The president of the European Commission, Ursula von der Leyen, pointed this Tuesday to the possibility that the European Union studies “decoupling” from the price of electricity that of natural gas to control the rise in energy prices.

Von der Leyen said in Tallinn that “in the short term we will speak in the European Council and in two weeks in a formal council, on how to approach storage (of energy), a strategic reserve and we will look at the global composition of the electricity market.”

He added that the reason is that “if electricity prices are high, it is because gas prices are high and we have to see the possibility of decoupling within the market, because we have a lot of cheap energy, such as renewables.”

He added that “we have high prices (for electricity) because the price of gas is increasing a lot, the price of renewables is stable and has fallen over the years.” The EC president recalled that the EU is highly dependent on energy imports and that it imports 90% of gas and 97% of oil.

Gas prices have risen due to increased demand linked to the economic recovery in the EU while supply did not rise at the same rate, said Von der Leyen, who said the EU “appreciates that Norway is increasing production”. while supplies from Russia remain stable.

The EC president traveled to Estonia to announce the approval of the Recovery and Resilience Plan, for which the smallest of the Baltic countries will receive 970 million euros.

He praised Estonia for projecting the investment of 42% of European funds in “green targets”, more than the 37% recommended by the EU, and called the country a “world leader” in digital services, another of the objectives of the plan. post-pandemic recovery of the 27.

In a joint press conference, Estonian Prime Minister Kaja Kallas said that the Recovery and Resilience Plan aligns with Estonia’s own long-term goals and that her government does not view European funds as “free money” but investments. to spend wisely.

The EC President and Kallas arrived at the press conference in an autonomous driverless bus and discussed plans for a new train station in the Estonian capital that will be the terminus of the Rail Baltica project, funded in part by the EU, which it will link the Baltic republics with the rest of the EU by rail.

Article Source

Disclaimer: This article is generated from the feed and not edited by our team.