The European Commission recommended countries to reduce electricity consumption and limit the income of energy companies

Oleg Panfilovych

The European Commission proposed to reduce the consumption of energy resources and limit the income of energy companies against the background of the crisis. It was provoked by Russiaʼs actions aimed at limiting gas supplies to the EU.

This is reported on the EC website.

The commission proposes to reduce electricity consumption by at least 5% during peak hours, and overall by 31 March 2023 to reduce consumption by 10%. "Decreasing demand during peak hours will reduce gas consumption by 1.2 billion cubic meters during the winter," the European Commission noted.

The European Commission also proposes to set the income limit for energy companies at the level of 180 euros/MWh. Revenues above the cap will be collected by governments and used to help energy consumers reduce their bills.

  • The European Commission wants to force fossil fuel companies to contribute financially to help citizens and industries in the face of the energy crisis.
  • At the end of August, the Prime Minister of Belgium Alexander de Croo expressed the opinion that the energy crisis in Europe will last for about 10 years, and not only next winter.