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EU to propose crisis measures to tackle energy price spike

Reuters · Kate Abnett · last updated

BRUSSELS, Sept 14 (Reuters) — The European Union will propose measures to cap revenues from low-cost electricity generators and force fossil fuel firms to share the profits they make from soaring energy prices, European Commission President Ursula von der Leyen said on Wednesday.

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Related Knowledge Center: Energy security and pricing

State of Play

The United States achieved net energy independence in 2020, but that has not insulated the nation from the roiling of energy markets in the wake of the Russian invasion of Ukraine. Europe has been a large consumer of Russian natural gas, and the effort to wean itself, with the help of the United States, has strained markets and endangered global efforts to address the climate crisis.

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