The European energy market needs to be reformed

The Belgian Minister of Energy, Tinne Van der Straeten, has stated that natural gas prices should be limited despite the energy crisis that is being experienced in Europe.

From her Twitter account, Van der Straeten tweeted about the rapid increase in natural gas and electricity prices in Europe.

She said that the countries of the European Union (EU) should go down “to the source of the energy problem” and emphasized that work should be done to freeze the prices of natural gas.

“If we do nothing, the next 5-10 winters are going to be awful. Today, the price of electricity production is much lower than the price of electricity and natural gas.

There is no longer any connection between the cost of production and the selling price.

It is necessary to review the system of forming the price of electricity in Europe”, declared Van der Straeten, drawing attention that the freezing of natural gas prices can reduce household electricity bills by up to 770 euros.

Although electricity is already produced at last year’s price, it is being sold at record prices, said Van der Straeten, who noted the importance of fighting extreme profiteering in this area.

She drew attention to the fact that Belgium has shared this issue with the EU Commission and that action should be taken immediately and a decision made.

Van der Straeten added that the Advisory Board will hold a meeting on Wednesday to discuss the energy crisis in Belgium.

It is expected that soon the energy ministers of the EU member states will hold an extraordinary meeting to discuss the energy crisis. Several EU countries, including Belgium, have requested the implementation of a price ceiling on natural gas.

The EU Commission is trying to define a common position by holding talks with member states on this issue.