Answer given by Ms Simson on behalf of the European Commission
Addressing the energy crisis is a priority for the European Commission. The Commission has proposed different packages of initiatives, from the October 2021 toolbox on energy prices to the most recent package on emergency measures in the field of energy prices.
The latter proposes, inter alia, to cap the revenues of electricity producers with low production costs (infra-marginal technologies), a levy on excess profits from companies’ activities in the oil, gas, coal and refinery sectors and guidance on redistributing the extraordinary energy sector's surplus collected by these measures to final customers.
While reaffirming our Green Deal objectives, the REPowerEU Communication of March 2022 and the subsequent REPower EU Plan of May 2022, acknowledge that the supply of fossil fuels needs to be diversified to ensure our energy independence from Russia, together with increased renewables roll-out and demand reduction.
On 9 September 2022, the Council invited the Commission to present a set of measures to decrease high energy prices and alleviate their impact on European citizens and industries, among which a possible temporary gas price cap. The Commission continues to work on assessing all possible policy options.
The 18 October 2022, ‘Energy Emergency — preparing, purchasing and protecting the EU together’ Communication proposes gas price limiting mechanisms and actions to reduce price volatility in energy markets, which are expected to address high prices.
The Commission stands ready to propose further action to address the energy crisis as needed.