Energy prices in the EU hit four-year highs as political divisions deepen
Energy prices in the European Union have climbed to their highest in four years. Meanwhile, EU institutions and national leaders are split over climate rules, the bloc's budget and gas reserves.
Energy prices in the European Union have reached their highest level in four years, according to Politico Europe, whose headline says EU governments are helpless in the face of the rise. The matter is significant because higher costs affect households and businesses, while there is no consensus among national leaders or in the European Parliament on how to respond.
Gas reserves for the winter
In mid-October, European Commission President Ursula von der Leyen suggested that EU leaders consider creating bloc-wide strategic gas reserves. The idea stems from concerns about gas supplies over the winter.
Divisions at the summit
An EU leaders' summit in mid-October exposed splits over energy prices and the bloc's seven-year budget. The disagreements also revealed unhappiness with the performance of European Council President Costa, and some leaders were angered by him.
A fight over climate rules
The European People's Party (EPP), the group to which von der Leyen belongs, wants to weaken EU climate legislation. It is targeting a new carbon price on driving and heating, as well as rules on methane emissions. On 22 October, the EPP teamed up with the far right to win a vote in the European Parliament delaying the EU methane law. The group demanded a three-year halt to the new climate law, breaching the informal cordon sanitaire, the agreement not to cooperate with the far right.
The source text does not describe any specific measures planned to curb the price increase.
