New Commission toolbox of measures will tackle soaring energy prices in Europe

On 13 October 2021, the European Commission adopted a Communication on Energy Prices to tackle the extraordinary rise in global energy prices – projected to last through the winter – and help the Union’s people and businesses.

The Communication includes a “toolbox” that the EU and its Member States can use to address the immediate impact of current prices increases and further strengthen resilience against future shocks. Short-term national measures include emergency income support to households, state aid for companies, and targeted tax reductions. The Commission will also support investments in renewable energy and energy efficiency; examine possible measures on energy storage and purchasing of gas reserves, and assess the current electricity market design.

HOTREC very much welcomes the Commission initiative: State aid for companies and targeted tax reductions are the way forward to help SMEs cope with the rising energy prices.