EU sources: «The majority of the 27 considers the ETS indispensable» | EUROtoday

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Ahead of the European Council on 19 and 20 March, a senior EU official defined that “several leaders” among the many 27 member international locations are in favor of sustaining the ETS mechanism: «We anticipate that «the ETS system will probably be one of many details of dialogue within the vitality chapter. There are leaders who we anticipate to help tackling this technique however on the similar time we’ve nearly all of leaders who contemplate ETS indispensable not just for the transition however as a result of it was essential for European funding methods.

Energy: concrete measures and timescales on the EU summit, ETS to be maintained

“The area where there will probably be the most debates will be on energy, as leaders have already indicated that energy was one of the biggest challenges for the European Union’s competitors. The reason is that electricity prices are much higher in Europe than our main competitors in the rest of the world, certainly compared to the United States or China. This had to be addressed, and now, with the war in Iran, we see that there are at least three time layers to address,” the senior EU official mentioned.

“The idea is that there are also timescales for the approval of the measures indicated in the Commission’s letter. This concerns the medium and long term. In the short term, leaders have identified a structural problem with electricity prices in Europe and want this to be analyzed to understand where it can be corrected. The Commission’s letter is an important contribution in this regard. There are several components that influence the price of electricity. There are networks, network prices and also the ETS,” he explains.

Pichetto: «A correction is required on the ETS, even with out suspension»

«We ask for the suspension of the ETS as regards to thermoelectric energy, or an answer that leads us to the results of not having the worth of the ETS influence, virtually tripling it, on the worth of vitality». Energy Minister Gilberto Pichetto mentioned this on the sidelines of the assembly along with his European counterparts. «The nature of the ETS is much like a tax and it weighs on the Italian invoice for a complete of over 7 billion and can’t be lowered for causes of calculation mechanism», he highlighted. «We ask for a correction of all this. Then it could possibly be suspension, it may be a unique sort of analysis”, he added.

“The intention” of the Italian government “was to inform” the intervention on the ETS of the bill decree “after approval by Parliament, as a result of through the parliamentary course of there can legitimately be adjustments, nevertheless the problem is such that we’ve introduced it in a political however official method to the European Commission, and subsequently we’re already asking for a right away analysis on this, whatever the notification”. This was acknowledged by the Minister of the Environment and Energy Security, Gilberto Pichetto, in a press level on the sidelines of the Environment Council in Brussels.