Energy crisis: European business urges leaders to support bold actions

20 October 2022 - EU leaders are gathering today in Brussels to discuss the recently published energy package and possible further measures to alleviate the energy crisis. BusinessEurope regrets that the latest energy package does not include a proposal to decouple electricity prices from the high gas prices, and urges EU leaders to support this measure. As more and more businesses have to cope with the dramatic situation on the energy market, all efforts must be placed on preventing further production losses and rebalancing the energy market.

BusinessEurope President Fredrik Persson said: “companies of all sizes across Europe are struggling for survival at the moment. While some important steps have been taken over the last weeks, it is unsure whether this week’s Commission proposals can drastically lower the energy bills for companies, many of which are shutting down their production lines. More, bolder actions are needed to tackle this energy crisis. We urge EU leaders to agree on a temporary EU-wide proposal to decouple electricity prices from the high gas prices. To continue operating, businesses need to know that their energy bills will soon become affordable again.”

Adjusting the EU temporary crisis framework while maintaining a level playing field on the single market is equally important to grant much-needed aid to affected businesses.”

In any case, Europe needs a functioning energy market to incentivise much-needed investments in the green transition. Rebalancing the market by rapidly increasing the energy supplies and decreasing demand where still possible will be crucial in reverting to normal functioning as soon as possible.

Read our full position here.