EU Faces Internal Divisions Over Energy Policy and Market Regulation
Left-wing MEPs Call for Extended Gas Price Cap as EPP Pushes for Relaxed CO2 and Renewable Policies
A coalition of left-wing Members of the European Parliament (MEPs) is advocating for the extension of the European Union's gas price cap, due to expire on February 1. The cap, set at €180 per MWh, was implemented at the height of the 2022 energy crisis following a significant increase in gas prices.
The MEPs, concerned about rapidly depleting winter gas reserves, argue that the cap needs to be maintained to protect against market speculation.
In a written appeal to the European Commission, led by Italian MEP Dario Tamburrano, 37 lawmakers from left-wing and ECR factions are urging a revision of the cap to a lower threshold—between €50 and €60 per MWh has been suggested by Rome.
Benchmark gas prices, such as those from the Dutch TTF, are currently at €46 per MWh after a temporary surge attributed to disruptions in Russian gas supplies.
Simultaneously, the European People's Party (EPP), the largest political group in the EU Parliament, has called for a deregulatory approach to revive the EU economy.
During a leadership summit in Berlin, EPP leaders, including figures like Ursula von der Leyen and Friedrich Merz, proposed suspending certain supply chain reporting rules and CO2 import tariffs while rolling back pre-2019 renewable energy targets.
Key proposals from the EPP include limiting reporting obligations to large corporations with over 1,000 employees and abolishing set renewable energy targets, thus leaving countries to independently choose their sustainable technology pathways.
These suggestions signify a shift towards more pro-nuclear policies, aligning partially with countries like France, which oppose fixed renewable targets.
Additionally, Germany is pushing for a stronger EU reaction to Russia's hybrid threats, involving potential sanctions on Russia's oil and gas operations.
Enhanced cooperation with private firms and regular stress testing of critical infrastructure are also proposed to bolster defenses against hybrid attacks.
This initiative reflects growing concern over the geopolitical landscape and the EU's reliance on secure energy supplies.
The MEPs, concerned about rapidly depleting winter gas reserves, argue that the cap needs to be maintained to protect against market speculation.
In a written appeal to the European Commission, led by Italian MEP Dario Tamburrano, 37 lawmakers from left-wing and ECR factions are urging a revision of the cap to a lower threshold—between €50 and €60 per MWh has been suggested by Rome.
Benchmark gas prices, such as those from the Dutch TTF, are currently at €46 per MWh after a temporary surge attributed to disruptions in Russian gas supplies.
Simultaneously, the European People's Party (EPP), the largest political group in the EU Parliament, has called for a deregulatory approach to revive the EU economy.
During a leadership summit in Berlin, EPP leaders, including figures like Ursula von der Leyen and Friedrich Merz, proposed suspending certain supply chain reporting rules and CO2 import tariffs while rolling back pre-2019 renewable energy targets.
Key proposals from the EPP include limiting reporting obligations to large corporations with over 1,000 employees and abolishing set renewable energy targets, thus leaving countries to independently choose their sustainable technology pathways.
These suggestions signify a shift towards more pro-nuclear policies, aligning partially with countries like France, which oppose fixed renewable targets.
Additionally, Germany is pushing for a stronger EU reaction to Russia's hybrid threats, involving potential sanctions on Russia's oil and gas operations.
Enhanced cooperation with private firms and regular stress testing of critical infrastructure are also proposed to bolster defenses against hybrid attacks.
This initiative reflects growing concern over the geopolitical landscape and the EU's reliance on secure energy supplies.
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