The European Commission has today published its ‘toolbox’ of temporary measures which Member States can apply to protect vulnerable consumers from the impacts of sudden electricity and gas price increases. Examples of such measures include, among others, targeted and time-limited emergency income support and tax reductions.
Europex welcomes this coordinated approach and urges Member States to implement consumer protective measures which do not negatively impact the well-functioning and proven welfare benefits of efficient and integrated European energy wholesale markets.
We therefore also welcome that the Communication recognises that EU energy markets have helped to dampen price increases driven by current global trends, notably through the extensive use of hedging instruments by many market participants.
Integrated electricity and gas markets are key to continue with the energy transition, to further empower consumers and to enhance the integration and flexibility of the energy system. These measures, building on the common foundation of an integrated EU Internal Energy Market, are vital to achieve a fair, sustainable and cost-efficient transition to a net-zero economy.