|Author (Corporate)||European Commission: Secretariat General|
|Series Details||COM (2022) 553|
Communication adopted by the European Commission on 18 October 2022, providing the context to emergency measures put forward to guarantee security of energy supply in the European Union (EU).
Russia's invasion of Ukraine and the weaponisation of energy greatly exacerbated a crisis in the energy markets across the European Union. This crisis caused a sharp rise in energy prices and compromised the security of energy supply. The European Commission set out a common approach to tackling these challenges in July 2022, and the Council of the European Union agreed to an intervention in the markets to address energy prices in October.
Despite these actions, the situation was still deemed extremely challenging at the onset of winter. Member States and the European Parliament have asked the European Commission to propose measures to coordinate solidarity efforts, secure the energy supply, stabilise price levels and support households and companies facing high energy prices.
This Communication presents an enhanced framework for action to address those issues this winter and prepare for the next winter. This includes leveraging the single market to make joint purchasing a reality and keeping market prices in check, limiting the excessive price spikes and making the best use of existing infrastructure to ensure that gas flows where it is most needed. Such measures are exceptional and temporary, aimed at responding to a crisis and providing a solution for immediate relief.
|Subject Tags||Energy Infrastructure, Energy Markets|
|International Organisations||European Union [EU]|