Proposals on managing gas prices must be thoroughly examined, Pilides says

The proposed regulation on controlling the rise of energy prices must be thoroughly studied to ensure that it is in line with wider EU policies, Energy, Commerce and Industry Minister, Natasa Pilides, said during the meeting of the Energy Council of the European Union in Luxembourg on Tuesday.

EU Energy Ministers did not reach an agreement during Tuesday’s meeting, but agreed on the main direction of the measures and asked the Commission to develop the technical details of the proposals ahead of their next extraordinary meeting set for November 24th.

Although there is progress on common purchases and solidarity mechanisms, which both the Commission and the Council expect to be approved on November 24th, the ministers had diverging views on the proposal for a dynamic cap on gas prices and the issue remains open.

According to a statement by the Ministry for Energy, the meeting discussed the proposal for a regulation to strengthen solidarity through the better coordination in the gas markets, cross-border gas exchanges and reliable price benchmarks.

The main topic of the meeting was the gas and hydrogen package and the adoption of a General Approach on the proposal for a Directive on the energy performance of buildings.

During the discussion on the proposal for a Council Regulation on strengthening solidarity through the better coordination of markets, cross-border exchanges and reliable gas price benchmarks, Pilides pointed out that due to the scope and number of actions included in the proposal, it is necessary that it be thoroughly examined to ensure that it is in line with the broader EU policies, both regarding sustainability and security of supply.

The Energy Minister welcomed the Commission’s intention to proceed with all the necessary steps to ensure that the EU platform for a common market for gas comes into force as soon as possible.

With regard to the proposal for a Directive on the Energy Performance of Buildings, the Energy Minister expressed her support for the text for the General Approach presented by the Czech Presidency of the Council, which Cyprus had a leading role in formulating according to the press release.

During the debate on the package on natural gas and hydrogen, the Minister pointed out that the specific circumstances of emerging and isolated markets, such as Cyprus, should be taken into account, and stressed that hydrogen produced from renewable energy sources and low carbon footprint technologies should be treated equally.