Leaders of European Union (EU) member states on Friday agreed on a ‘roadmap’ of measures to protect European consumers from soaring energy prices.
The agreement was reached after several hours of discussions over proposals to lower energy bills, which have skyrocketed due to the conflict between Russia and Ukraine.
The summit agreement sets out a “solid roadmap to keep on working on the topic of energy prices,” European Commission president Ursula von der Leyen told a press conference.
“The European Council has agreed that in light of the ongoing crisis, efforts to reduce demand, to ensure the security of supply, to avoid rationing, and to lower energy prices for households and businesses across the Union need to be accelerated and intensified, and the integrity of the Single Market has to be preserved,” said the published summit conclusions.
Leaders called on energy ministers and the European Commission to “submit concrete decisions” on a “temporary dynamic price corridor on natural gas transactions” that would limit price spikes, and a price cap on gas used to generate electricity.
EU leaders also agreed to push forward on plans to buy gas through a joint platform before next winter.