For the measurements, we will have to wait. The leaders of the European Union only agreed on the night of Thursday 21 to Friday 22 October on a ” roadmap ” aiming to put in place, in the coming weeks, mechanisms to stem the rise in energy prices.
The war in Ukraine and the sanctions imposed on Russia have caused a shock to the prices of oil, gas and electricity. But, since February, Europe has reacted slowly, weakened by the divergent interests of member states.
If, after tough negotiations, the bloc wanted to present a united front, many points remain to be decided, and the negotiations in the coming weeks promise to be difficult.
“We now have a very good roadmap”underlined the President of the Commission Ursula von der Leyen, while the President of the European Council Charles Michel evoked “an agreement on a package of measures” which must now be “delicately processed”. But German Chancellor Olaf Scholz has made it clear that if energy ministers cannot agree on a final version, a new summit of heads of state will be needed.
According to the French President, Emmanuel Macron, the mechanisms envisaged could be implemented “late October, early November”. He felt that the leaders had “sent a very clear signal to the markets to [leur] determination and [leur] unity “.
According to the conclusions released at the end of the meeting, the Heads of State and Government ask the Commission to submit to them “urgently” of the “concrete decisions” on a set of measures, including interventions to tame the volatility of gas prices.
“Taking advantage of the economic weight” of the EU
The Twenty-Seven have agreed to promote joint purchases of gas at EU level, with the idea that they remain “volunteers” but cover at least one target level ” obligatory “ 15% of the EU stock fill targets for the winter of 2023.
They also called for “accelerate its negotiations” with producing countries “reliable” such as Norway and the United States, for “take advantage of the economic weight” EU aggregate rather than competing on the global market at the risk of fueling price fever.
In addition to a measure to control the wholesale price in natural gas transactions, the leaders are also asking for a specific plan for a mechanism ” temporary “ to cap the price of gas used to produce electricity – a system already in place in Spain and Portugal, and which France was calling for to be extended to the whole of the EU.
But, in a concession made to Germany, this mechanism will have to be accompanied by safeguards to “avoid any increased gas consumption”. It will also have to prevent the EU from subsidizing electricity which would ultimately be exported to neighboring countries (Norway, United Kingdom, Switzerland, etc.).
Clarifications in the Franco-German couple
Asked about the Franco-German couple, the engine of European cooperation which seems to have broken down, Mr. Macron affirmed that his face-to-face meeting with the German Chancellor had made it possible to “clarify a lot of things”. A few hours earlier, he had felt that Berlin was playing a solitary score, seeming to blame the Germans for Europe’s difficulties.
“I don’t think it’s good for Germany or for Europe that it isolates itself (…). Our role is to do everything so that there is European unity and that Germany is part of it.he said. “It is very clear that Germany has always acted in a very united way”replied Olaf Scholz.
The chancellor had been accused of selfishness after announcing at the end of September a support plan of 200 billion euros for the German economy, not concerted with its partners.
It was without consultation with Berlin that Paris announced on Thursday an infrastructure project after years of blockage: France, Spain and Portugal have agreed to replace the MidCat gas pipeline project with an undersea pipeline between Barcelona and Marseille, intended to transport gas and then green hydrogen.
Initially launched in 2003, this MidCat project (for Midi-Catalonia), was defended by Lisbon, Madrid and Berlin but came up against opposition from Paris. It aimed to link the French and Spanish gas networks via a 190 km pipeline running from Hostalric, north of Barcelona, to Barbaira, east of Carcassonne, via the Pyrenees.
In the middle of the night, after a dozen hours of negotiations between the 27, Emmanuel Macron and Olaf Scholz played the appeasement, the latter evoking in particular a relationship “intense and fruitful”. The two men are to meet on Wednesday in Paris.