The ministers of the European Union (EU) countries in charge of energy agreed on a package of measures to help in the energy crisis and reached an agreement on the reduction of electricity consumption by five percent in the period during the day when it is consumed the most.
The decision was made based on the proposal of the European Commission (EC).
They also accepted a general reduction in electricity consumption of ten percent, which is on a voluntary basis, reports Tanjug.
The EU ministers also agreed to redistribute the excess income of the energy sector to end customers.
The decision to reduce electricity consumption is an obligation that should be implemented through electricity demand management.
Large consumers who accept this will receive subsidies and should limit demand at times when prices are too high.
The Czech Minister of Industry and Trade, Jozef Sikela, who led the meeting, said that the agreement reached will bring relief to citizens and businesses by reducing the demand for electricity, as well as that the member states will redistribute surplus income from the energy sector to those struggling to pay their bills.
The ministers also confirmed two mechanisms for collecting excess profits of energy companies.
Nuclear and renewable electricity producers, as well as those who use coal and benefit from the current high prices, will have their price capped at 180 euros per megawatt hour.
As explained, revenues exceeding this ceiling will be considered as excess profits, and member states can redistribute these revenues to end consumers, households and businesses facing huge energy bills.
The member states also agreed to set a mandatory temporary solidarity contribution on the revenues of companies active in the crude oil, natural gas, coal and refinery sectors.
This contribution will be applicable to income that exceeds 120 percent of the average profit for the last four fiscal years.
This contribution must amount to at least 33 percent, and the collected money must be directed to support measures for the most vulnerable end consumers.
The ministers also discussed limiting the price of gas, which was requested by 15 member states.
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