To complete work towards an agreement on the gas price correction mechanism, member state leaders are calling on energy ministers ahead of their meeting on Monday 19 December, under the conclusions chapter of the European Council currently underway in Brussels.
As noted in the conclusions, which were made public, the European Council welcomes the progress made and calls for the conclusion of the discussion not only on the gas cap mechanism, "to protect citizens and the economy against excessively high prices", but also on the regulation on common gas markets and solidarity between member states, and the regulation "to accelerate the development of renewable energy".
In a post, President Anastasiades spoke of progress on the gas price correction mechanism, on which the Energy Ministers will reach a conclusion, which "balances between protecting citizens from high prices and protecting security of supply and economic stability".
"For Cyprus, agreement on the above paves the way for the adoption of the Licensing Regulation, which will speed up the approval of renewable energy sources, so that we can soon benefit from more affordable energy."
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