EU ministers sanction move to cut down energy prices
European Union energy ministers endorsed different approaches to tackle skyrocketing electricity prices at a meeting on Friday in Brussels.
They are tasking the European Commission to come up with draft bills.
The measures include skimming off excess revenues of electricity producers to make the money available to struggling households and businesses.
Others are incentivising demand reduction, establishing a gas price cap and supporting utility companies in financial difficulties.
This means the European Commission can put forward a first draft law as early as Tuesday, which will then be discussed and potentially amended by EU capitals before it can be approved.
Czech Industry Minister, Jozef Sikela, who chaired the talks, said he wants “clarity” by the end of the month on how European Union countries can tackle the crises jointly.
(dpa/NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Lagos
Epe residents hail FG over improved electricity supply
Mr Ajibade said the improved electricity supply enabled him to expand his business operations beyond maize processing into other profitable ventures.
States
INEC assures persons with disabilities of inclusion in Nasarawa electoral activities
The REC also reminded residents that the ongoing continuous voter registration (CVR) had been extended from July 10 to July 26.
Lagos
Six men on trial over alleged phone theft, assault at Agege Train Station
Magistrate Lateef Owolabi admitted each defendant to bail in the sum of ₦300,000 with one surety in like sum.
NationWide
Experts advise journalists on ethical use of AI
The lead facilitator, Silas Jonathan, said that AI should be seen as a tool that enhances journalism rather than replaces journalists.
States
Two Lagos women arraigned for allegedly defrauding two men of ₦360 million
The case was adjourned until July 28, for further hearing.
Heading 5
Ekiti footballer bags one-year jail term for stabbing opponent with jagged bottle
The court, however, gave the convict an option of N5,000 fine on count one, and N2,000 fine on count two.
