EC proposes to withdraw excess profits of energy companies and limit gas consumption

According to the proposals, EU member states should aim to reduce overall electricity consumption by at least 10% by 31 March 2023. “All consumers can contribute, including those who are not yet equipped with smart metering systems or devices that allow them to their consumption during the day,” emphasizes the EC.

During peak load hours, when gas-fired power generation has the greatest impact on prices, it is proposed to introduce a mandatory reduction in electricity consumption by at least 5%. The EU member states will have to determine the hours of the highest demand for gas and limit electricity consumption. The limit must cover at least 10% of peak demand hours per month. According to the EC, this will reduce gas consumption by 1.2 billion cubic meters within four months. m, which across the EU will reduce demand in the winter season by 4%.