Under strong pressure, the Commission submitted to the 27 Member States a panoply of mechanisms - some very complex - with the hope of arriving next week at a text sufficiently consensual to be quickly approved.

While the idea of ​​confiscating superprofits from nuclear and renewables to redistribute them is welcomed, EU member countries are very divided on a cap on Russian gas prices.

At the heart of the debates: the dysfunctions of the European electricity market, where the wholesale price is indexed to the cost price of the last power station mobilized to meet demand – often a gas-fired power station.

Redistribute "superprofits"

The Commission proposes to cap the revenues of nuclear and renewable energy operators (wind, solar, biomass, hydroelectric) who sell their electricity at a price well above their production costs.

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States could levy the difference between this ceiling (a level of 200 euros/megawhatth hour is mentioned) and the market price to redistribute these “superprofits” to vulnerable households and businesses.

"The idea has received a lot of support among the States. Afterwards, the devil is in the details, the ceiling will have to be determined", underlines a European diplomat.

Berlin and Paris had asked for such a "contribution mechanism".

At the same time, the Commission wants to demand "a temporary solidarity contribution" from producers and distributors of gas, coal and oil, favored by the surge in world prices.

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We need "a discussion without taboos" on "energy groups making exceptional profits in times of war", hammered Austrian Minister Leonore Gewessler on Thursday.

"Not constructive"

After the agreement of the Twenty-Seven at the end of July to cut their gas consumption, the Commission also proposes to set "binding objectives" to reduce the demand for electricity, with for each State a reduction "of at least 10% net monthly consumption" and "at least 5%" during peak hours.

Again, the proposal is widely welcomed.

A European diplomat notes the same "great convergence of views" concerning support for electricity suppliers, short of cash in the face of market volatility: European rules could be relaxed to allow them to be quickly provided with public guarantees.

On the other hand, many countries have warmly welcomed the idea of ​​capping the price of Russian gas deliveries, proposed by the Commission to further restrict the Kremlin's income.

Its impact on the market is arousing skepticism in certain European capitals, while Russian gas now represents only 9% of European imports (compared to 40% before the war).

And some countries, which remain very dependent on Moscow for energy, fear disastrous economic consequences.

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On Wednesday, Russian President Vladimir denounced what would be "an absolutely stupid decision", and threatened to stop all deliveries to countries that would adopt this mechanism.

"This proposal is not constructive. It is another form of sanction against Moscow, rather than a real solution to the energy crisis," reacted Czech Industry Minister Jozef Sikela, whose country holds the presidency. of the EU.

Hungary says it "does not understand" this measure which risks "causing a shortage".

For its part, Italy advocates a complete cap for six months on the price of gas purchased by the EU, whatever its origin, including for liquefied natural gas (LNG) transported by ship.

Greece and Belgium, in particular, are on the same line.

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"To attack the evil at the root, we need a ceiling on the whole gas market", not just Russian gas, argues Belgian Prime Minister Alexander De Croo.

The Commission certainly calls for ''exploring ways'' to reduce the LNG import bill to ''avoid paying substantially higher prices'' than in Asia, but warns that the EU must remain sufficiently ''attractive'' for suppliers , in a global market where supply is tight and where LNG ships can easily find other destinations.

© 2022 AFP