In a meeting of the Energy Union Task Force (EUTF) convened by the European Commission today, Member States’ senior officials and Commission services discussed energy security and prices, amid evolving developments in the Middle East as well as wider industrial competitiveness challenges.
Regarding the security of gas and oil supply situation in Europe, EUTF gathered in a new form – EUTF Security. Participants confirmed that they do not observe immediate risks on security of supply, in line with the conclusions of the 4 March Oil and Gas Coordination Group meetings. The direct impact on EU energy markets remains limited.
The Task Force also shared their views on the challenges of high energy prices and their impact on Europe’s industrial competitiveness. Participants provided insights into their national specificities. They also exchanged views on the current mechanisms governing electricity markets, stressing the need to ensure investor certainty and predictability to accelerate the deployment of domestic, affordable and clean energy supplies, and take action on the various components of electricity bills, such as taxes and network charges.