Energy crisis: European business calls for new EU-wide measures

6 October 2022 – Tomorrow in Prague heads of state and government will discuss the energy crisis situation. BusinessEurope calls on leaders to urgently agree on new EU-wide measures to alleviate costs for European businesses. As energy bills are skyrocketing to levels never seen before, all-sized companies across the continent have already reduced their output or even shut down their production completely. There is a real danger that energy-intensive businesses relocate outside of Europe where energy prices are much lower, which would have dramatic consequences on our competitiveness and jobs.

BusinessEurope President Fredrik Persson said: “We are in the midst of a two-fold energy crisis. Next to the risk of supply shortage, Europeans are exposed to unbearable energy prices. We urge leaders to agree on new and targeted measures to bring down the energy bills for businesses. If well designed, EU-wide ‘price capping’ measures such as decoupling electricity prices from gas prices could effectively lower the bills. Adjusting the EU temporary crisis framework while maintaining a level playing field in the single market is equally important to grant much-needed aid to affected businesses.”

Decoupling gas and electricity prices would be an exceptional and strictly temporary measure justified only by the exceptional situation on the energy market, and its impact on gas consumption and security of supply must be thoroughly considered. In any case, Europe must undertake all efforts possible to increase our energy supplies rapidly and decrease demand where still possible. Only this would enable the energy market to rebalance and revert to normal functioning as soon as possible.

Read our full position here.