EU faces a decade of terrible winters – minister – RT Business News
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The EU could suffer « terrible » winters in the coming years if the leaders of the bloc do not take immediate action to impose a price cap on uncontrolled gas prices, according to Belgian Energy Minister Tinne Van der Straeten.
« The next 5 to 10 winters will be terrible if nothing is done », tweeted the minister. « We must act at the source, at European level, and work to freeze gas prices. »
A price cap could help reduce soaring energy bills by €770 ($770), according to Van der Straeten, who said the link between gas prices and electricity prices needs urgent reform .
The comments come as EU leaders plan an emergency response to tackle soaring business and consumer energy bills across the 27-nation bloc.
« The European energy market is failing and needs to be reformed urgently », Van der Straeten said. “This is no longer tenable for many families and businesses. Electricity is produced as cheaply as last year but sold at record prices. By reforming, we are tackling exuberant excess profits.
“The time for discussions is over, now is the time to decide” said the minister.
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