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Energy prices in the EU

A dramatic increase of the energy prices in the EU was a subject of debate during European Council summit, 21-22 October and the sectoral Transport, Telecommunications and Energy Council meeting on 26 October. Earlier this month, the European Commission proposed an Energy Price Toolbox mostly focusing on the short-term measures. In the long-term ministers mentioned the following measures: reforming the functioning of the wholesale electricity market, voluntary joint purchase schemes for gas and EU-level solutions for storage. For more information, please contact Michal Dlugosz.