Brussels, 13 September 2022 - In its meeting of the 9th of September, the Energy Council acknowledged the pressure put by the increase in electricity and gas prices on inflation and the EU economy, therewith threatening the competitiveness of European companies.

In its attached letter to the Czech Presidency of the EU issued on the 6th of September last week, the energy-intensive industries referred to the destructive consequences of these market developments which have already prompted a shut-down of plants or reduction of production in many sectors. With every day that goes by, the situation grows worse with potential irreversible consequences on investments in Europe.

In this context, we unfortunately lack the sense of urgency in the series of measures discussed at the Energy Council. Many of these measures require further elaboration, are worded in broad and, at times, vague terms and are unclear as to their application to industry.

We call upon Europe’s leadership to provide industry with immediate and precise relief measures that can be implemented swiftly to ensure the continued viability of the operations in Europe.