EU energy ministers agree on emergency measures

By Agnes Szucs

BRUSSELS (AA) – EU energy ministers agreed on Friday on taxing the revenues of energy companies and reducing energy consumption during peak hours.

“Ministers reached a political agreement on measures to mitigate high electricity prices,” the Czech government, assuming the turning presidency of the Council of EU, announced on its official Twitter account.

The agreement involves mandatory reduction of electricity demand during peak hours, introduces solidarity contribution for fossil fuel producers, and caps revenues of companies that produce electricity at low costs, such as nuclear or renewable energy producers.

The decision has yet to be officially adopted after the political consensus.