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Ulviyya Poladova

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High energy prices have once again moved to the forefront of the European Union’s economic and social agenda. The EU energy commissioner has called on member states to consider additional measures to address the situation, including options for reducing energy demand.

Bulgaria’s BTA news agency reported that the European commissioner described the current situation as an "energy price crisis." The warning comes as rising fuel and energy prices are pushing up costs for households and industrial companies across Europe.

The increase in energy prices is prompting a number of European countries to reconsider measures such as cutting consumption, introducing support schemes for industry, and providing tax relief and compensation. Higher electricity and gas costs are particularly putting the competitiveness of energy-intensive industries under pressure.

At the same time, European countries are working to diversify energy supplies, expand renewable energy capacity, replenish gas storage facilities and increase cross-border interconnector capacity.