Source: European Parliament
Europe is currently facing an extremely serious gas price crisis, with prices having risen by as much as 170% since January this year. The causes lie both on the demand side and the supply side. Increased demand for gas coupled with worryingly low stock levels ahead of the winter, as well as high demand in Asia, breakdowns and the rise in gas production prices, are pushing prices to unprecedented levels. In Poland, for example, gas hub prices have reached record levels. This situation is having a significant impact on consumers. It also risks inspiring populist and anti-EU sentiment.
In light of the above:
1. Is the Commission planning to help Member States respond to rising energy prices and protect consumers from drastic price increases? If so, how?
2. Is the Commission planning to build strategic reserves and set up a European purchasing platform?