EU Council extendes regulations for emergency situations in energy
In the EU Council, the regulations for emergency energy situations have been extended (photo: flick.com)
The Council of the European Union has approved the extension of the application period for three special regulations designed for emergency situations in the energy sector. These measures were adopted last year following the start of Russia's large-scale military aggression against Ukraine, according to the press service of the EU Council.
"The Council has adopted by written procedure three emergency Council regulations as regards the prolongation of their period of application, under article 122 of the Treaty on the Functioning of the European Union, designed for emergency situations," the release stated.
The measures aim to enhance solidarity among EU member states, expedite the deployment of renewable energy sources, and protect citizens of the bloc from excessively high energy prices.
- Regulation (EU) 2022/2576 on enhancing solidarity through better coordination of gas purchases, reliable price benchmarks and exchanges of gas across borders includes temporary emergency measures designed to bring down high energy prices and improve gas supply security, according to the statement.
Now this regulation will be in effect for another year, until December 31, 2024.
- Regulation (EU) 2022/2577 laying down a framework to accelerate the deployment of renewable energy aims to tackle the energy crisis, reduce the EU’s dependency on Russian fossil fuels and further advance the EU’s climate objectives by accelerating the permit-granting process and the deployment of renewable energy projects.
"The Council has agreed to extend the period of application of certain amended provisions of the regulation until 30 June 2025. Unlike the other two emergency regulations, amendments would then go beyond the mere extension of the period of application of the regulation," the EU Council stated.
- "Regulation (EU) 2022/2578 establishing a market correction mechanism to protect Union citizens and the economy against excessively high prices establishes a system of temporary measures to prevent spikes of excessively high gas prices in the EU that do not reflect prices on the world market. It applies from 1 February 2023 for a period of one year," the EU Council explained.
This regulation will apply from February 1, 2023, for a duration of one year, and the provisions will be extended for an additional year until January 31, 2025.
All decisions will enter into force after publication in the Official Journal of the EU.
Earlier, it was reported that the European Union would provide Ukraine with 500 generators to enhance the country's energy resilience. The financial value of these generators amounts to 16.5 million euros.
