The European Union is looking for a way to reduce energy prices in its internal energy market. To address this challenge, 12 countries presented a joint document at a meeting of EU energy ministers.
Writes UNN with reference to Euractiv.
Twelve EU member states on Tuesday called on the European Commission to support the creation of energy alliances, including electricity alliances, to reduce energy prices in the EU in the face of market instability.
Portugal, Spain, Austria, Cyprus, Denmark, Germany, Greece, Ireland, Italy, Luxembourg, Malta and the Netherlands presented a joint document (position paper) at the EU Energy Ministers' meeting in Luxembourg on Tuesday.
“Interconnection and cross-border cooperation are key to lowering energy prices... It is time to ensure the full participation of all member states in the internal energy market,” the document explains.
It also states that urgent measures are needed to ensure greater integration of the EU's cross-border electricity systems, which is important for the full functioning of the internal energy market.
The coming years will be crucial to lowering energy prices for our industry and our citizens. Our heavy reliance on fossil fuels, combined with Russia's aggressive war against Ukraine and the fact that Russia has weaponized its energy supply, has proven to be a dangerous mix
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