Written by 7:40 am Europe Economy

EU presidents will talk over energy, economy at a conference

(MENAFN) EU presidents are going to talk over energy and economy at the two-day European Council conference, as declared by EU commission chief on Thursday.

At her entrance declaration, Ursula von der Leyen claimed restrictions to cut gas costs and support the economy will be negotiated by the presidents of the EU member states at the conference.

“If we look at the start of Russia’s atrocious war against Ukraine, since today, we can see that Russia has cut deliberately two thirds of its gas supplies to the European Union,” on the words of von der Leyen.

“We’ve been able to compensate in the last eight months by diversifying away from Russia to reliable suppliers, we have saved minus 15 percent. We have been able to fill our storages and we have deployed more renewable energy,” she continued.

The command came with a “substantial package” that will be deliberated at the conference, as stated by von der Leyen, saying that two points will be the emphasized during the talk.

“The first one is how are we able to tame the gas prices, mainly the spikes and the manipulation by Russia. Here two models are on the table … that one is at TTF level, so, wholesale level and the other one is decoupling the gas partially from the electricity prices,” she added.

“And then there is a second topic that is very important, that is how can we support our economy all over Europe, everywhere in Europe,” she further said.

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