EU Delays Methane Rules as Energy Prices Climb
Ursula von der Leyen outlined a one-year delay, expanded state aid and stronger joint energy purchasing to ease price pressures.
Key takeaways
- The EU plans to delay implementation of its methane regulation by one year.
- Temporary public aid will be extended and widened.
- Oil and diesel reserves are set to reach markets over the next four months under IEA coordination.
The European Union will delay implementation of its methane regulation by one year and widen temporary public aid, European Commission President Ursula von der Leyen said. She also announced plans to strengthen joint energy purchasing as the bloc responds to high energy prices.
Von der Leyen said the cost of fossil-fuel imports had risen by 106 billion euros without additional energy being bought. Since late February, natural gas prices have climbed about 140%, while diesel prices have doubled, she said.
Oil and diesel reserves will be released to the market over the next four months under International Energy Agency coordination, according to von der Leyen. The EU will also extend the temporary public aid framework introduced in February.
The bloc plans to open a strategic dialogue with European refineries to increase refining capacity and lower prices. It also wants a market operator to use the EU’s combined purchasing power to buy needed energy supplies globally.
Von der Leyen said Europe should continue shifting toward affordable, clean energy produced within the bloc, including nuclear and renewable power. She also called for modernized electricity grids and faster completion of the legislative process for a proposed renewal of the EU Emissions Trading System.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
