The Czech Presidency “will convene an emergency meeting of energy ministers to discuss specific emergency measures to deal with the energy situation,” Prime Minister Petr Fiala said in a tweet.
Endorsed by Ursula von der Leyen, head of the European Commission, the move comes as the 27 EU member states attempt to reduce their dependence for oil and gas supplies on Russia.
Dwindling supplies and worries regarding the future have caused energy prices to spike in Europe.
Czech Industry and Trade Minister Jozef Sikela said the European Energy Council should meet “as soon as possible”, in a tweet.
“We are in an energy war with Russia and this is hurting the whole EU,” he said.
On Friday, Germany and France announced record prices for electricity in 2023, with contracts within a year jumping to 850 euros per megawatt hour in Germany and more than 1,000 euros in France, once morest 85 euros in both countries last year.
The European Commission plans to cut the EU’s dependence on Russian gas by two-thirds this year and end its dependence on Russian supplies of the fuel before 2030.
A “pan-European problem”
Heavily dependent on gas imports from Russia, the Czech Republic has pledged to make energy security a priority during its EU presidency, which began on July 1.
Mr Sikela said the energy market had stopped functioning properly following the reduction in Russian supply.
“To some extent the market has gotten out of control, market volatility no longer responds to good news, while bad news is piling up and driving prices up,” he told reporters on Wednesday.
“It’s a Europe-wide problem and of course if you have the European market and a pan-European problem, the easiest way to look for a solution is at the pan-European level,” he added.
Among the possible solutions, Mr. Sikela mentioned price caps and price diversification according to the type of energy production.
The EU has targeted Russia’s energy sector in its sanctions, banning coal imports from Russia.
Its plan to cut gas consumption across the Union by 15% to deal with the energy price crisis came into effect earlier this month. The aim is to allow the EU to boost its gas reserves in anticipation of a winter that is likely to be very difficult
However, some member countries have obtained exemptions from this rule, because they are too dependent on Russian supplies.
