European energy ministers meeting in Luxembourg have acknowledged that they have few short-term options left to shield households from soaring prices, Politico Europe reports.
Gas prices in Europe rose above €100 per megawatt-hour on Wednesday for the first time since 2022, driven by last-minute buying to fill storage and supply pressures linked to the war in the Middle East. One senior official told the outlet that most short-term measures had been exhausted and what remained was crisis management.
Ireland's energy minister, Darragh O'Brien, whose country holds the EU presidency, said there was no magic wand and the focus was now on more lasting measures. Ministers were reluctant to make cutting energy use official policy despite earlier calls from EU energy commissioner Dan Jørgensen. Finland's Mika Nykänen favoured incentives such as subsidies for home efficiency improvements instead.
Source: Politico Europe
