Patriots for Europe: Energy prices must come down immediately!

Written by Rainer Ackermann

The ‘Patriots for Europe’ group is calling on the EU Commission to take immediate action in response to spiralling energy prices.

Serious disruptions to market processes are now commonplace in the European electricity network, said András Gyürk, MEP for Fidesz, explaining the initiative of the third-largest political group in the European Parliament. Poor regulation is to blame for the above-average price level. Hectic price jumps during the course of the day undermine competitiveness and erode the prosperity of the Community’s citizens. In recent months, Central Eastern Europe and the Balkans in particular have been affected by record prices; on some days, the difference to the electricity price in Western Europe amounted to several hundred euros.

The average market price for electricity in the EU has risen by 78% since 2019, explained Gyürk: ‘It is clear that the current Brussels energy policy cannot be sustained.’ The parliamentary group hopes that a written question to the EU Commission will present concrete measures to minimise ‘abnormal’ price fluctuations. The current price formation mechanisms need to be reviewed and innovative instruments are required. The Patriots for Europe are convinced that without a swift and rapid reduction in prices, the EU is heading straight for the next energy crisis.