European hikes in energy prices ‘not an issue that we can tackle at national level’

France and Spain have proposed changes in the European market to tackle the current crisis driven by the soaring energy prices

Surging energy prices is not an issue that can be tackled at a national level.

That’s the suggestion by the Spanish Minister of Economic Affairs and Digital Transformation Nadia Calvino who joined the Eurogroup meeting focused on rising energy prices.

Ms Calvino said: “It was a productive meeting of the Eurogroup on the need for a European response to the evolution of international prices.

“Spain has made proposals for a just ecological transition, which transmits to citizens and companies the benefits of a cheaper and cleaner energy.”

Spain has proposed the creation of a strategic gas reserve so that the 27 EU member states could speak with one voice when negotiating with the international gas suppliers.

French Finance Minister Bruno Le Maire said: “The European energy market has a major flaw: the alignment of electricity prices with gas prices.

“It is a real economic problem for the French and millions of Europeans, but also for the competitiveness of our companies. We have to change that.”

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