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MEPs debate measures to keep energy bills down for consumers and businesses

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The European Commission and the Czech Presidency of Council highlighted the existing measures to ensure alternative energy sources, reduce demand for energy and address high prices of electricity or gas. Valdis Dombrovskis, Vice President of the Commission, stated that member states should ensure that measures are targeted at the most vulnerable because a blanket fiscal support will fuel inflation. He called for prudent fiscal policy that does not increase inflation.

MEPs urged the Commission to take a more proactive approach in dealing with the current price shock during the debate. Some MEPs called on the EU to create a winter solidarity package with fiscal transfers to offset energy prices. Others suggested a "shield", to protect citizens as well as businesses. Other MEPs called on the EU to mitigate the risk of variable mortgage interest rates and warned against any national fiscal measures causing distortions in the single market.

Background

A resolution was adopted by Parliament on 5 October. It called on the EU to respond to the needs of the most vulnerable. The EU also urged for more emergency measures to reduce the impact of rising energy prices on European businesses and households. MEPs said further steps needed to introduce a tax on windfall profit. The Commission has already presented its plans for a temporary tax, which it calls a contribution to solidarity.

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