Sharjah24 – Reuters: European Union leaders are set to press ahead with measures to shield consumers from record-high energy prices that have curtailed industrial production and hiked consumer bills.
xEU leaders will meet on Oct. 21-22 to discuss the energy price spike and a "toolbox" the European Commission published this week which confirmed the measures national governments can use to provide immediate relief to consumers.
A draft of the leaders' conclusions, seen by Reuters, invites the Commission and EU countries to use that toolbox "to provide short-term relief to the most vulnerable consumers and to support European companies."
As of Wednesday, twenty EU countries had drawn up such measures, including price caps, cuts to energy taxes and subsidies for poorer households.
That number is set to grow, with Germany planning to cut the surcharge on consumers' energy bills which helps fund renewable energy investments.
The Commission said it would also assess measures the EU could take in the longer term to protect countries against price spikes, including joint purchasing of gas.
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