Source: European Parliament
The issue of energy prices is of crucial importance both for the competitiveness of European companies and for the wellbeing of citizens.
The Commission has been assessing the root causes for the high electricity prices in Southeastern Europe and has engaged bilaterally with the respective Member States.
The Commission is in continuous discussions with Member States to support the implementation of adequate tools to respond to price spikes, without interfering with the proper functioning of the wholesale markets and the necessary investment needed for the energy transition.
These tools include mobilising non-fossil flexibility, reducing demand during critical hours, increasing cross-border capacities, and protecting consumers .
The existing internal market rules allow Member States to introduce all such measures, and the Commission is committed to support the Member States in their design.
The Commission also underlines the importance of using existing interconnections between Southeastern Europe and the rest of Europe efficiently, and is engaging with some Member States to support the maximisation of the use of existing interconnections.
European Union funding, in particular from the Connecting Europe Facility for Energy, is available for cross-border projects of common interest.
The facility has notably provided funding for the electrical interconnection between Greece and Bulgaria that was commissioned in 2023.
The Commission will actively work on affordability of energy. In this regard, already in the first 100 days of its mandate, the incoming Commission plans to adopt the Clean Industrial Deal, including an Action Plan for Affordable Energy.