EU commissioners have said that they would not suspend the bloc’s Emissions Trading Scheme (ETS) in response to surging energy prices. The Commission also stated that releasing oil stocks is also not on the table. Speaking to Argus, Teresa Ribera, European Commission Executive Vice-President said: “I don’t think that killing the carbon price is going to send any positive message to anyone. It could derail the efforts and could strand early movers, and could prevent our competitiveness.” With assurances that the EU’s energy crisis is not as severe as the one in 2022, Ribera presented a package of longer-term measures to reduce energy prices. The EU will also review the ETS later this year and said that the current challenge requires “dedicated and short-term” measures that should “avoid” killing long-term signals for clean energy transition.
