Tackling the energy crisis: European measures to a global problem

Last week, European energy ministers met in Prague to discuss the measures put forward by the Commission to answer the energy crisis. Between consensus and division, let's explore European options.

At the end of August, the President of the European Commission, Ursula von der Leyen announced that Commission would propose an "emergency intervention" to answer the price surge in the power market with long-term measures. This reform could be completed in the first half of 2023, she claimed, with a positive impact already this winter.

To bring down the price of electricity, the European executive concluded that the two best solutions are coordinated demand reduction (through energy efficiency measures, turning toward alternative sources and renewable, etc.) and a price cap on electricity.

As an answer to critics of acting too fast, the Commission also proposed to divide the measures into several packages of immediate interventions and longer-term reforms.