EU approves emergency measures to curb prices ...News

Russia Today - Economy
EU approves emergency measures to curb prices
source : Russia Today ( News ) () 23
The plan assumes mandatory energy savings and cap on company revenues EU energy ministers on Friday approved their first package of emergency measures in response to the deepening energy crisis in the bloc driven by skyrocketing prices. The package, negotiated in less than a month, includes mandatory power savings, a cap on excess market revenues and a levy to capture surplus corporate profits. The plan prescribes a mandatory 5% target during peak hours, when gas plays a bigger role in price setting, and a voluntary 10% reduction in overall electricity demand. It also suggests a cap on the excess revenue made by p

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