An urgent meeting of European Union Energy Ministers was held today in Brussels to address the extraordinary situation of energy prices and to continue to discuss possible measures that can mitigate the effects of this situation.
Addressing the Energy Council, Minister for the Environment, Energy and Enterprise Miriam Dalli emphasised the importance that any EU measures implemented should be beneficial for all Member States and do not burden people and businesses with additional costs.
Miriam Dalli advocated for the introduction of a price cap on gas that is used for electricity generation. This, she argued, could be the most successful proposal if complemented with measures that can ensure that there will be no further gas shortages. This is seen as a measure that can actually mitigate the wholesale price of electricity.
Minister Dalli reiterated that any proposal suggesting a mandatory electricity demand reduction that hurts both people and European economies should be avoided. This was in particular the case for a country like Malta that is dependent on electricity for its activities.
Malta has already started rolling out measures to ensure energy saving in public buildings and entities. Work is currently underway for such measures to be adopted by the private sector whilst public campaigns will be addressing households too.
In the face of this crisis, Minister Dalli told her European counterparts that it was time to accelerate the much-needed investment in clean energy infrastructure across Europe.
Minister Dalli called on to the European Commission to invest in the transition to green energy as much as it did during the financial crisis, where €3.2 trillion were invested to inject liquidity in European banks over an 8-year period.