Kumer welcomes EU electricity measures, expects gas measures soon

EU energy ministers reached a political agreement on a regulation targeting mostly the electricity market, with measures raging from a mandatory reduction in consumption to a cap on the revenues of companies that generate electricity using technologies cheaper than gas.

Kumer also highlighted as important the reduction of prices for small and medium-sized enterprises, as he spoke to the press after the EU ministerial in Brussels.

He said that today's debate showed that all ministers agreed on the need to intervene in gas prices, and he believes that further measures for the gas market could be taken in the coming weeks.

"It's no longer a question of whether to intervene or not," he said. "It is a question of how to intervene, which will have to be worked out in the coming weeks in talks."

Ways will have to be found to satisfy those member states which fear that the introduction of a gas price cap would affect security of supply, he added.

Experts will prepare various scenarios of how strongly to intervene in natural gas prices, which could be ready next week.

EU leaders will then discuss this topic as they meet in Prague for a summit next Friday, which will be followed by an informal meeting of infrastructure ministers in Prague, with another summit and another ministerial following before the end of October. "This intense agenda, with many meetings, somehow ensures that we will arrive at the desired measures by the end of October," said Kumer.