The meeting, which was convened by the French Presidency of the Council of the EU, saw the final assessment of the report of the European Union Agency for the Cooperation of Energy Regulators (ACER), regarding the wholesale electricity market, which is being carried out in the context of the energy crisis and energy price increases.
In particular, Member States exchanged views on ACER's final assessment of the wholesale electricity market and more specifically on the policy measures proposed by ACER, which aim inter alia to shield vulnerable consumers from price volatility and to accelerate the integration of the European electricity market.
The Commission and the Member States also informed each other about the measures taken to tackle high energy prices and protect vulnerable consumers and businesses.
In his intervention, Mr. Panagides mentioned among others that Cyprus has been significantly affected by the increase in energy prices, and stressed in relation to the ACER evaluation that the different circumstances and energy mix of the Member States should be taken into account.
He also referred to the need to diversify energy sources, mainly through endogenous energy sources, to complete interconnections with emphasis on those related to the transfer of green energy, to promote cooperation with strategic partners such as Israel and Egypt in the energy sector.
He also referred to the need to diversify energy sources, mainly through endogenous energy sources, to complete interconnections with emphasis on those related to the transfer of green energy, to promote cooperation with strategic partners such as Israel and Egypt in the energy sector.
