Extraordinary Transport, Telecommunications and Energy Council (Energy), 30 September 2022

Main results

EU energy ministers agreed on a regulation to address high energy prices and discussed further measures to mitigate high gas prices.

Regulation to address high energy prices

EU energy ministers reached a political agreement on a regulation on an emergency intervention to address high electricity prices. The regulation will be formally adopted by written procedure in the coming days.

We live in exceptional times and are working in an exceptionally fast, coordinated and solidary manner to form a united front against Russia’s continuous weaponizing of energy supplies. The agreement reached today will bring relief to European citizens and companies. Member states will flatten the curve of electricity demand during peak hours, which will have a direct positive effect on prices. Member states will redistribute surplus profits from the energy sector to those who are struggling to pay their bills.

Jozef Síkela, Czech minister of industry and trade

The regulation includes measures to reduce electricity demand during peak hours in order to decrease electricity prices for consumers. It introduces measures to collect surplus revenues from the production of electricity and a solidarity contribution from the fossil fuel sectors’ surplus profits, which will be used to alleviate the impact of high prices on final customers and further protect electricity retail customers.

• Council agrees on emergency measures to reduce energy prices (press release, 30 September 2022)

Policy options to mitigate high gas prices

Ministers held an exchange of views on further policy options to mitigate high gas prices. Member states recalled the unity and solidarity in their common efforts to secure the EU’s energy supply and mitigate the impact of high energy prices on consumers and the economy.

Ministers reiterated their call for a rapid and coordinated EU-wide response to address the high gas prices.

Today, we have approved a very good set of measures that will allow us to mitigate the consequences of the unprecedented situation on the energy markets. However, we also need to put maximum effort into additional measures to ensure that we also address the causes of the current situation. The Presidency is prepared to continue work tirelessly on all required solutions. Jozef Síkela, Czech minister of industry and trade

Following up on political guidance given by the Council in the Extraordinary Energy Council on 9 September, the Commission is preparing possible actions for coordinated emergency gas market interventions, including intervening on gas prices and strengthening solidarity among member states.

Ministers called on the Commission to present further measures including possible legislative proposals as a matter of utmost urgency.

Ministers expressed the need for an EU response that would limit Russia’s influence on the European gas market, diversify suppliers and routes, mitigate excessive price volatility and reduce the price paid by European customers, while continuing the energy transition.

The Council expressed its readiness to follow-up on any initiatives with determination.

Gas leaks in Nord Stream pipelines

Under any other business Denmark, supported by Germany and Sweden, informed ministers on recent gas leaks from the Nord Stream 1 and 2 pipelines near the island of Bornholm in Denmark.

Member states recalled the declaration by the High Representative Josep Borrell on behalf of the European Union on leaks from the Nord Stream gas pipelines and underlined that there is no immediate impact on the EU’s security of supply, neither for gas nor for electricity.

• Declaration by the High Representative Josep Borrell on behalf of the European Union on leaks in the Nord Stream gas pipelines

• Energy prices and security of supply (background information)
• Impact of Russia's invasion of Ukraine on the markets: EU response (background information)