The EC President has set up five principles to overcome the energy crisis

–21.10.2021

Ursula von der Leyen, President of the European Commission (EC) has set up the basic principles to overcome the energy crisis. She announced them on her Twitter, as has become fashionable with American and European politicians. These proposals are likely to be considered at the summit of leaders of the European Union (EU) on October 21-22.

Marat Samarsky, Advocate of International Economic Compliance at ART DE LEX, notes that the European Union may adjust its legislation to solve energy problems. According to Samarsky, the appropriate measures may be taken as part of the provisions of the EU common foreign and security policy.

He noted that the Agency for Cooperation of Energy Regulators (ACER) is already operating in the EU as part of the energy market regulation. According to the advocate, the EU can expand the powers of ACER to carry out centralized strategic procurement. In addition, a new body can be established in the EU, capable of balancing the EU energy market at the expense of its own gas reserves.

Samarsky added that a similar mechanism for managing the market situation of energy prices is already being used in the United States. In particular, through the sale of strategic oil reserves by the Office for Fossil Energy and Carbon Management (FECM), the US Department of Energy is trying to influence prices within the country. «Vedomosti» sent a request to the EC.