EU Summit, also a temporary price cap on energy in draft

BRUSSELS - In the latest version of the draft conclusions of the European summit in the energy chapter, the possibility of introducing the price cap,

absent in previous versions

In the draft, viewed by ANSA, the chapter dedicated to energy states that "the European Council invites the Commission to explore with international partners ways to curb the increase in energy prices, including the feasibility of introducing caps on temporary prices ".

As a non-short-term measure,

The feasibility of the price cap, in the draft of the conclusions, is included in the possible short-term measures to be implemented on energy.

On the implementation of a temporary price cap, the Commission with RepowerEu said it was available on condition that the measure is strictly emergency and is linked to interruptions in Russian gas supplies.

The energy chapter, in the updated draft of the conclusions, is significantly expanded.

In particular, in the text, the summit of leaders "invites the EU Council to rapidly examine the Commission's proposals to achieve the RePowerEu objectives, including their financing".

The draft refers to the fact that "

in particular through a rapid agreement on bilateral solidarity and a coordinated European emergency plan ". The conclusions also stress the need to" speed up the filling of warehouses before winter.

In this context, the European Council welcomes the agreement on gas storage and calls for its swift implementation ". Finally, in an added paragraph in the latest version," the European Council takes note of the Acer's report and invites the Commission to rapidly pursue work on optimizing the functioning of the European electricity market in order to resist future price volatility, provide electricity at affordable prices and adapt perfectly to a decarbonised energy system ".

"The European Council calls on Russia to

to lift the blockade of Ukrainian Black Sea ports and to allow for food exports, especially from Odesa. The EU is taking active measures to facilitate agricultural exports from Ukraine and to support the Ukrainian agricultural sector in view of the 2022 season. The European Council invites Member States to speed up the work on the 'solidarity lanes' proposed by the Commission ".

This is what we read in the latest draft of the conclusions of the European summit which will examine the food emergency.

The updated draft of the conclusions of the European summit

"The European Union remains committed to continuing to strengthen Ukraine's capacity in defending its territorial integrity and sovereignty. In this regard, the European Council welcomes the adoption of the recent Council decision to increase military support in Ukraine under the European Peace Fund ", reads.

Finally, "

measures and calls on the Council to act swiftly and examine the Commission's recent proposal on criminal measures in the event of infringement of EU sanctions. The Council European Union supports further options in line with the EU and once international law is explored, including options aimed at using Russian resources to freeze in support of Ukraine's reconstruction ", reads the draft.

New black smoke, however, on the Russian oil embargo included in the sixth package of sanctions against Russia

.

According to EU sources, the ambassadors of the member countries have not found an agreement on the proposal on the table, which provides for an exemption for the Friendship pipeline (Druzhba), which brings crude oil to Hungary and the countries of Eastern EU. 

before the start of the meeting of the EU leaders, scheduled for 16:00. We learn from EU diplomatic sources after the black smoke of the afternoon.

which, despite the exemption on oil bound for Hungary via the Druzhba pipeline, opposes the embargo, arguing that it would seriously endanger its economy.

The proposal on the table provides for the entry into force of the total ban on imports by sea by the end of the year.

RepowerEu will be among the key themes of the extraordinary European summit. 

The dossier will be addressed by the leaders after the sanctions chapter and after that of aid, including military aid, to Ukraine.

In short, the minds will already be overheated and the risk is that, on the floor, they will heat up further.

Not everyone likes the Repower launched by the Commission.

And above all, they dislike the criteria for allocating funds which, according to the European executive, should follow those of the Next Generation.

"But the situation has changed, the degree of energy emergency among member countries is different from that of Covid", warns a European diplomatic source a few hours before the summit.

.

But other states, such as the Netherlands, also ask for caution in evaluating the plan.

Together with Repower, the leaders will also discuss the effects of the war on energy supplies and the gas and electricity market.

In the draft of the conclusions, a novelty has been included that smiles at countries such as Italy, the possibility of introducing a temporary price ceiling to calm the inflation trend if,

above all, Moscow decides to turn off the taps.

The measure, explained European sources, should in any case be agreed with the EU's international partners.

in fact, the risk is to have the opposite effect, forcing Russian producers to sell gas elsewhere.