The EU finance ministers will come up with specific proposals in May on how EU countries can get through the energy crisis in the short term. This is what Cyprus's President, Nikos Christodoulides, said on his way to the informal EU summit in Cyprus on Friday.
The announcement comes after the EU heads of state and government held the first discussion on the proposal presented by the EU Commission this week on Thursday evening. The details are now being put on the table for the finance ministers:
- We have decided that the finance ministers will continue the discussions at their meetings in May. Here they will come up with very specific proposals on what needs to be done in the short term to curb energy prices, says Nikos Christodoulides.
He is hosting Friday's informal EU summit because Cyprus currently holds the EU presidency.
The EU finance ministers will meet twice in May. The first time is on May 5 in Brussels and then on May 22-23 in Cyprus. This means that Europeans will have to wait a little longer before the concrete decisions on how the EU will reduce energy prices in the short term are made.
In addition, discussions on the long-term measures will continue, says Nikos Christodoulides.
The long-term solution is more renewable energy
Here, the EU Commission has emphasized that the long-term solution is more renewable energy. This will allow Europe to become independent of fossil energy, which has been hit by major price fluctuations due to the wars in Ukraine and Iran.
As part of the transition, according to Christodoulides, the EU must create an energy union, where countries help each other secure cheap electricity via the world's largest interconnected electricity grid.
- I hope we can reach an agreement on this in June, says Christodoulides.
The heads of state and government of the EU countries will meet at the EU summit in Brussels on June 18 and 19.
/ritzau/
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