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The EU is preparing to introduce a sort of ceiling on electricity prices

The EU is preparing to introduce a sort of ceiling on electricity prices
The EU is preparing to introduce a sort of ceiling on electricity prices

A decision is awaited in middle of the month

The European Union is preparing urgent measures to limit the high electricity prices through intervention in the electricity market. According to an unofficial draft of the European Commission (EC), which is available to the German business daily Handelsblatt, an initial draft is being considered for the operators of wind, solar, coal and nuclear power plants to transfer to the state their profit above a certain threshold.

It will not be a tax on excess profits, but it is designed with a similar effect, since the funds will go into the state budget, and the state will relieve the citizens.

According to EC officials the model of restriction on the prices of electricity, which is not produces with gas, it would be possible

to apply simultaneously in all Member States or only in some of them. However, the proposal has not yet been agreed in the EC.

A few days ago, Commission President Ursula von der Leyen announced that Brussels is working on structural reform for cheaper renewable energy, which in turn will help determine electricity prices.

In turn, countries such as Germany, the Czech Republic and Spain

increased the pressure for reform of the energy market

in the union by breaking the link between electricity and rising gas prices. As well as pushing for the separation of electricity and gas prices, Czech Industry Minister Jozef Sikela is also proposing a cap on the price of gas used to produce electricity.

Recently, German Economy Minister Robert Habeck has also joined calls for fundamental reform of the separation of the two markets. The same goes for Spanish Prime Minister Pedro Sánchez, who is calling on Brussels to introduce a hard ceiling on electricity prices, as well as Austrian Chancellor Karl Neuhammer.

At the moment, official measures to combat high electricity prices for the coming heating season have not yet been announced, which is expected to happen in the middle of the month.

In Bulgaria, it can be said that a ceiling on the price of electricity has already been set – at least for business. With the budget update, it was voted that by the end of the year,

pay out compensations of 100% if the quotations of energy stock market exceed 250 BGN

per megawatt hour. Thus, in practice, the money paid above this price is returned to the companies.

Separately, a mechanism was adopted in which deductions are made for the “Security of the Energy System” fund. According to him, that is where the revenues of the power plants go, which are above what is needed to cover the production of electricity and to ensure the investments. From the money collected, the compensations for the business are paid. From the report of the fund for July, for example, it is clear that the receipts in it were BGN 753.302 million, and the companies were paid BGN 626.576 million.

The article is in bulgaria

Tags: preparing introduce sort ceiling electricity prices

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