The energy crisis in the Middle East is raising costs for EU, with effects that could last months or years – The Commission <\/b>is putting in place a new framework of subsidies<\/b> to support vulnerable businesses<\/b> and households<\/b> until 2026.<\/p>\n
The impact of the current energy crisis<\/b> due to the conflict in the Middle East<\/b> “could last for months or even years,” the president<\/b> of the Commission<\/b> Ursula von der Leyen <\/b> said, adding that the Union spends almost 500 million euros a day<\/b>. Within 60 days the extra cost of fossil fuel imports<\/b> exceeded \u20ac27 billion, with no increase in consumption<\/b>.<\/p>\n
In this context, the Commission presented the new temporary state aid framework which, however, will be in force until the end of 2026. It allows member states to support<\/b>vulnerable businesses and households through targeted measures according to their needs.<\/p>\nCoverage of additional fuel costs<\/h3>\n
Provides for coverage of up to 70%<\/b> of additional fuel costs<\/b> for sectors such as agriculture, fisheries, transport<\/b> and energy-intensive industry, while a simplified aid of up to 50 is introduced for small businesses.000<\/b>.<\/p>\n
The main beneficiaries appear to be countries with a strong industrial base<\/b>such as Germany<\/b>which has secured increased aid rates for energy-intensive industries without additional carbonisation obligations, while Italy<\/b>may move to subsidies for electricity generation from natural gas<\/b>. However, experts warn that such measures could increase demand and fossil fuel prices.<\/p>\nFiscal “flexibility” issue unresolved<\/h3>\n
But what remains unresolved is the issue of fiscal “flexibility” with Rome<\/b> calling for the escape clause to be triggered, as it was during the 2022 energy crisis, a position shared by Athens.<\/p>\n
Now the Commission<\/b>rejects any such possibility, claiming that the conditions<\/b>are not the same as in 2022. This issue, as well as the impact of the energy crisis, will be on the agenda of next week’s EU finance ministers’ meetings in Brussels.<\/p>\n
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