European Union leaders set course to bring prices down

This first day of meeting in Brussels had a “fundamental” role according to Charles Michel, the President of the European Council. The 27 EU leaders agreed overnight from Thursday to Friday on “a common roadmap”. The objective is to drive down energy prices, and secure supply.

For the moment, no concrete measures have been decided, but after months of negotiations, a precise working framework has now been set. Energy ministers will now meet from next Tuesday, October 25, to work and agree on a package of solutions. They were proposed by the European Commission, after the failure of the Prague summit two weeks ago.

Urgent and concrete decisions

The 27 have agreed to study the Commission’s proposalsin particular: promoting joint gas purchases, establishing compulsory solidarity between the States in the event of a risk of shortage for one of them, or even setting up a “temporary” mechanism to cap gas prices. European Union leaders also called for “accelerating negotiations” with “reliable” producing countries such as Norway and the United States.

“Our discussion has created real convergence. In my view, the objectives of this Council have been achieved”, declared Emmanuel Macron at the end of the first day of the meeting. The French president is now calling for “urgent and concrete” decisions.

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