Austria says the current state of the European energy market is ‘crazy’

The Austrian Chancellor, Karl Nehhammer, this Sunday called the current situation in the European energy market “crazy” and demanded that the price of electricity be decoupled from the price of gas.

“We have to end this madness in the energy markets. And we can only do that with a European solution,” Nehhammer told a news conference as the Austrian government, made up of Christian Democrats and environmentalists, held a crisis meeting to discuss prices. In the field of energy.

For the Austrian chancellor, Europe cannot allow Russian President Vladimir Putin to decide European electricity prices on a daily basis.

At today’s crisis meeting, it was learned that energy supplier Wien Energie, managed by the municipality of Vienna, is facing liquidity problems to buy electricity from international markets and needs a guarantee of 1,700 million euros from the Austrian state.

Germany also revealed last week that it is considering decoupling gas and electricity prices in the medium term to prevent gas and electricity from being affected by each other in the event of price rises, as part of an energy market reform.

In France, Elisabeth Bourne’s government has said it will reduce rising energy prices for consumers and has not ruled out a special tax on companies with high profit margins.

The threat of cutting off Russian gas supplies to Europe prompted the European Commission to set savings targets this month and lead member states to prepare plans to reduce energy consumption to avoid shortages in winter.

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The plans vary depending on each country’s degree of dependence on Russian gas, and include measures ranging from turning off shop windows at night to increasing the temperature of air conditioning in the summer.

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