Alan Farrell
Question:96. Deputy Alan Farrell asked the Minister for the Environment, Climate and Communications if he will detail his engagement to date with European leaders on the issue of rising energy prices. [44477/22]
View answerTuesday, 20 September 2022
Questions (96, 120)
Ruairí Ó Murchú
Question:120. Deputy Ruairí Ó Murchú asked the Minister for the Environment, Climate and Communications the engagements that he has had in recent weeks regarding the security and cost of the State’s energy supply; and if he will make a statement on the matter. [45631/22]
View answerWritten answers
I propose to take Questions Nos. 96 and 120 together.
Russia's unjustified and unprovoked war against Ukraine has highly impacted energy in Europe. EU countries are closely coordinating actions to tackle these rising prices and secure our energy. I have attended five meetings of the EU Council of Ministers for Energy since Russia's invasion of Ukraine in February to exchange views on and to respond to the energy situation in the EU. The most recent Energy Council meeting, on 9 September 2022, was split into two parts, the first sessions covering policy options to alleviate the burden of high energy prices and the second session on the state of play of the preparedness of Member States for the coming winter.
In respect of the extremely high energy prices discussion, the Council covered four main areas in which the Member States expect the Commission to act. These include capping the revenues of electricity producers that face low production costs; a possible price cap on gas; measures for a coordinated electricity demand reduction across the EU and measures that would help to solve the issue of decreased liquidity.
The Commission have since proposed legislation and this is already under urgent negotiation by Member States in order to have agreement by the end of the month. We are supportive of the overall approach being taken by the Commission and will cooperate closely with other Member States to get the Regulation agreed swiftly.
the Council discussion also covered the state of preparedness of Member States for this winter. Member States have carried out several actions both at national and EU level. They have in particular adopted a regulation to fill gas storages and share them in a spirit of solidarity, diversified supply sources and committed to reducing gas demand by 15% this winter. EU underground gas reserves have been filled to 82.5% of their capacity, well ahead of the 1 November deadline set in the gas storage regulation.