Cyprus’ Minister of Energy, Commerce and Industry, Michael Damianos, called on Thursday for more investment in grids, storage and interconnections, while taking into account the different circumstances of member states, especially on electricity, as he arrived for the EU Energy Council in Luxembourg.
On his part, Greek Minister for Environment and Energy Stavros Papastavrou said that he would brief his counterparts ‘on the progress made on the Greece-Cyprus interconnection, as well as on the next steps.”
‘We are here to discuss the priorities of the EU today, security of supply, affordable electricity, competitiveness. It is very important that we are discussing grids, we need more investment in respect to storage, we need more investment in terms of interconnections, but we also need to take into consideration the different circumstances of member states, especially as far as electricity is concerned,’ Damianos said.
The Cypriot Minister added that in respect to climate, ‘we do have climate priorities, but let’s however be realistic on being able to reach those targets in the circumstances and with respect to every single state, at its own pace and difficulties around.’
Damianos stressed that ‘the energy transition should deliver tangible results for European people, energy security is not a luxury, affordable electricity is essential, let’s work together in solidarity that we are used to on the EU to deliver these results for our people.’
In his statements Papastavrou said that he would brief his counterparts ‘on the progress made on the Greece-Cyprus interconnection, as well as on the next steps.”
“A project of European strategic importance that is moving forward with planning and determination, always in accordance with the Law of the Sea. A project that will end Cyprus’ energy isolation,’ he added.
‘We must build an energy Union that includes all member states and delivers tangible benefits to all citizens,’ Papastavrou noted.
Energy and Housing Commissioner Dan Jørgensen warned of a tough winter. ‘On an average here, unfortunately, close to 50 million Europeans are not able to adequately heat their homes due to the high energy prices in Europe this year. Probably that number will be higher,’ he said.
He called on member states to do whatever they can ‘to transition away from fossils as fast as possible, meaning more renewables, meaning more energy efficiency. Electrification away from gas boilers, oil boilers.’
Acknowledging the temptation to subsidise fossil fuels directly, which may be necessary for vulnerable groups, he urged that this be done ‘in a targeted and temporary way.’
Comparing with the 2022 crisis, he noted that ‘we’re better situated at dealing with this crisis than we were in 22 because we have reduced our gas consumption. We use 18% less gas now than we did in ’22.’ He said that the EU used to get 45% of its gas from Russia and now sources it from different suppliers worldwide, but said this crisis is also worse because it involves oil and oil products. ‘We don’t expect a security of supply crisis, but… for the citizens affected that cannot afford to buy the petrol to put on their car or to heat their homes, that doesn’t really matter if the supply is there if they cannot afford it,’ he added.
Irish Minister for Transport and for Environment, Climate and Energy Darragh O’Brien, whose country holds the EU Council presidency, said the aim is to conclude the grids package and bring network charges back to the Council in December for a general approach.
On the pushback from many member states, particularly over ruling on tax matters by qualified majority, he said that Thursday’s meeting ‘is an opportunity for member states to articulate their positions. There are different positions on this, particularly on the taxation,’ adding that he expects ‘a compromise of some description.’
‘From a supply perspective… our reserves are robust, our supply is robust. And the big challenge for households and for businesses is cost,’ he said.
‘The EU and member states don’t have a magic wand to make the price increases go away,’ he pointed out, stressing the need to act on network charges, grids and electrification.