"There is still work to be done".
Thus Prime Minister Mario Draghi, leaving the hotel where he is staying in Brussels, replies to those who ask him if he is satisfied with the conclusions of the EU Council.
Act now.
In order not to damage the post-Covid recovery, to preserve the ecological transition that has its times and costs.
Mario Draghi presented himself at the Europa Building in Brussels bringing a clear message to the European Council: the dossier of energy price increases cannot be delayed.
The topic, on the first day of the summit, is very hot.
Only late at night did the 27 leaders manage to find an agreement by giving "urgency" to the lines put in place by the commission, including the purchase - on a voluntary basis - of common gas stocks. And the heads of state and government have found a mediation on the big node of the energy mix, or on which sources the countries will use, with the approval of the European sustainability rating, to initiate the ecological transition. In fact, the Council conclusions emphasize that the "specificities" of the various countries will be considered. Who thinks of gas, who of nuclear power, who of coal. Four and a half hours of debate for the first point on the table of a Council already destined to ignite on the Polish case give a sense of the crucial importance of the energy dossier. Draghi was among the first to intervene,invoking lines of urgent action. Shortly before, in Rome, Economy Minister Daniele Franco admitted that high prices "are a factor that can be an obstacle to the consolidation of the recovery", assuring that the government is ready for further interventions.
In Brussels, the President of the Council, on the other hand, immediately put on the table the importance of coordination. "Action must be taken as soon as possible to limit increases in the price of energy, to preserve the recovery and safeguard the ecological transition", explained Draghi. The toolbox developed by the Commission at the beginning of October is a first step, but Italy - as well as Spain - came forward asking for more ambition. Pedro Sanchez, before entering the summit, stressed for example that he would like the first part of the process to be closed as early as December. The discussion was "very thorough", explains an EU source using a formula that often masks obvious divisions. After all, Angela Merkel herself on the road to common storage to calm prices is lukewarm.Rather than intervening on the market, it is "better to adopt social support measures, as we do for example in Germany", was the Chancellor's line. And then there is the concept of energy mix, defined by a diplomatic source as a key word in the dossier. A concept that contains a question dear to all the big players in the EU: which energies can be used in the transition to renewables? France, for example, flies the nuclear flag. The use of coal is still widespread in Germany. Italy pushes on gas.A concept that contains a question dear to all the big players in the EU: which energies can be used in the transition to renewables? France, for example, flies the nuclear flag. The use of coal is still widespread in Germany. Italy pushes on gas.A concept that contains a question dear to all the big players in the EU: which energies can be used in the transition to renewables? France, for example, flies the nuclear flag. The use of coal is still widespread in Germany. Italy pushes on gas.
Everyone has to deal with the European taxonomy, which decides what is more or less green. With all the financial consequences of the case. Last but not least, the role of the ETS market - CO2 emissions - on expensive prices also made the discussion electric. Spain asked for greater vigilance, the Czech Republic literally targeted it, putting an agreement on the final text at risk until the last minute. In the end, the conclusions of the summit instruct the Commission to carry out a study on the functionality of the energy market and on that of ETS. Evaluating whether speculative movements need "further regulation". Also in the text there is a clear reference to medium and long-term measures to be put in place to make it tolerable, for families and businesses,energy prices. But first there is the urgency. It will be discussed on Tuesday at the extraordinary meeting of energy ministers in Luxembourg. Before the showdown at the last leaders' summit of 2021.
