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Subject: Actions against increasing electricity prices and the impact on vulnerable households
In 2021, electricity prices in the EU have been rising steadily as the rate of economic recovery from the pandemic escalates. Since the beginning of September, wholesale electricity prices in Germany and France have risen by 36% and 48%, respectively, and during the third quarter of 2021, they are expected to rise in Italy and Greece by 40% and 50%, respectively.
Surging electricity prices negatively impact the well-being of European consumers. Energy poverty is a major issue in Europe, and in Member States like Greece and Cyprus, the share of population that cannot afford to keep their home adequately warm reached 17.9% and 21%.
Electricity prices are expected to rise further throughout the winter, as a result of peaking demands for heating and power, the persistent shortage in the supply of natural gas, and the limited availability of effective substitutes from alternative sources of energy.
In light of the above, the Commission is asked:
1. Will the Commission intervene in the electricity market to de-escalate the rate of price increase?
2. What actions is the Commission considering to offset the impact of rising electricity prices, and how will it support government interventions to protect the most vulnerable households from the price spikes?
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