The European Commission has recommended that the governments of the European Union stop their energy price support measures by the end of 2023.
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The annual recommendations of the EU executive indicate that this is necessary in order to control public finances and comply with the new budget rules in 2024. Therefore, countries were advised to roll back current energy support measures by the end of the year. It is reported by Reuters with reference to documents.
The recommendations say that if a rebound in energy prices requires the implementation of support measures, they should be aimed at protecting vulnerable households and firms.
The EC estimates these measures to support energy in 2023 in the range from 0.2% of the gross domestic product in Greece to 0.6% in Spain, 1% in France and Italy and 2% of GDP in Germany.
It is noted that support for the fight against energy prices is increasingly difficult to justify, because many countries will not be able to meet their net start-up spending limits, which were recommended by the European Commission as part of the reform of the EU fiscal rules.
Recall that in September 2022, the leaders of the G7 talked about plans to limit prices for Russian gas, this was also demanded by the European Commission. In response, the Russian “Gazprom” threatened to stop supplying gas to the European Union if the bloc introduces a “ceiling” on prices for “blue fuel”.
Source: Reuters
Source: Racurs
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