EU Energy Crisis Persists, Spanish Minister Says

October 18, 2022

European Union members have not yet identified common solutions to the energy crisis, Spain's Energy Minister Teresa Ribera said on Tuesday.

"Although progress is being made at an unprecedented speed within the usual EU parameters, we are far from being able to clearly identify solutions that can be sustained over time," Ribera said, adding more flexibility and solidarity between member states was needed.

EU countries are at odds over how to tackle the issue ahead of a summit scheduled for Thursday and Friday that will be dominated by the energy crisis.

Some countries such as Spain want a wholesale gas price cap, others such as Finland and Slovakia are against direct subsidies, while Germany is proposing joint purchases, reducing consumption and boosting supply.

The EU, which depends on imports for most of its natural gas and oil, has been grappling with soaring prices and the risk of shortages after Russia's invasion of Ukraine early this year caused chaos in energy markets.

Source: Reuters
Image source: Reuters

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