EU ministers debate how to tackle rising energy costs
ABC News
EU ministers have held emergency talks focused on energy that didn't produce immediate results amid divisions between the 27 member countries on how to tackle a crunch that has seen consumers’ bills skyrocket this year
BRUSSELS -- European Union ministers on Tuesday held emergency talks focused on energy that did not produce immediate results amid deep divergences between the 27 member countries on how to tackle a crunch that has seen consumers' bills skyrocket this year.
The wave of price hikes is not set to abate before next spring, and ministers discussed a set of short-term measures that have been put forward by the European Commission to help consumers and businesses weather the shock.
The main reason behind the sharp spike is increased global demand for energy, and gas in particular. According to EU officials, gas prices in Europe have increased by more than 170% since the start of the year.
Although most member states agree tax cuts, state aid and other measures put forward by the EU's executive arm to help households and businesses are beneficial to bring immediate relief, they diverge on the long-term approach.
