Posted Sep 29, 2022, 5:52 PM
The energy price situation and its impact on the European continent is serious. Soaring energy prices pose a significant threat to the competitiveness, profitability and functioning of the European economy.
Our goal as governments is to bring market energy prices down as quickly as possible. We must combine all efforts to bring down prices in Europe. We call for a strengthening of the EU energy platform as a way to increase our bargaining power. We are also calling for negotiated solutions with our main gas partners.
We welcome the European Commission’s proposal on the redistribution of inframarginal rents as it would provide relief to consumers in a targeted and effective way without undermining the internal market or the price signals which are important for energy savings. However, we ask the European Commission to explore all other options that can bring prices down while preserving a secure energy supply and avoiding excessive gas consumption.
The temporary crisis frameworks currently implemented at European level are too complex and are therefore not adapted to the needs of companies facing the crisis.
We also want to provide effective financial support to our most affected companies, in particular energy-intensive companies exposed to international competition, in accordance with European state aid rules. The temporary crisis frameworks currently implemented at European level are too complex and are therefore not adapted to the needs of companies facing the crisis. They must be urgently improved, extended and simplified by a system much better adapted to the crisis. Substantial and effective financial support must be open to all companies that are deeply affected by the price spike and are losing part of their profitability. Supporting these companies today means preventing a long-term crisis with closures, long-term dismantling and unemployment.
While driving this transition, we must ensure that we take swift and effective action to support our businesses rather than risk a lasting loss of our competitiveness.
Robert Habeck, Vice-Chancellor, Minister for Economics and Climate Protection of the Federal Republic of Germany
Bruno Le Maire, Minister of Economy, Finance and Industrial and Digital Sovereignty
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