RECENT EU MEASURES FOR LIMITING THE IMPACT OF ENERGY CRISIS

Petre Prisecaru

Euroinfo, 2022, vol. 6, issue 3, 79-93

Abstract: The European Commission's Communication or the Plan "Save gas for a safe winter"published on 20 July 2022 presents the market situation, the tools available under the current EU legislation on the security of gas supply and the measures taken until then. The plan proposes a voluntary target to reduce gas demand by 15% from 1 August 2022 to 31 March 2023, based on national emergency plans. On September 9, the EU Energy Council analysed the situation of electricity and gas prices in Europe, emphasized the need for a Coordinated European Action, proposed exceptional short-term emergency measures, and invited the Commission to present a set of measures to reduce high prices of energy and mitigating their impact on European citizens and industries. In this context, our research analyses the measures proposed by the European Commission, as well as their possible impact on the European energy market.

Keywords: EU; security of energy supply; reduction of energy consumption; capping of energy prices (search for similar items in EconPapers)
JEL-codes: L7 L71 L72 L78 L79 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:iem:eurinf:v:6:y:2022:i:3:p:79-93

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