Czechs Call Extraordinary EU Meeting to Debate Energy Crisis

The Czech Republic, which holds the European Union’s rotating presidency, will call an extraordinary meeting of energy ministers to discuss bloc-wide solutions to the spike in power prices.

Article content

(Bloomberg) — The Czech Republic, which holds the European Union’s rotating presidency, will call an extraordinary meeting of energy ministers to discuss bloc-wide solutions to the spike in power prices. 

Following an agreement with European Commission head Ursula von der Leyen, the Czech Republic will call an urgent meeting of ministers to debate “concrete” measures to tackle the energy crisis, Prime Minister Petr Fiala said on Twitter. 

Article content

Fiala said earlier he will push to find common agreement to tackle surging power costs as individual member states aren’t able to shoulder surging power prices with local measures. 

Europe is grappling with the worst energy crisis in decades, with spiking costs of gas and electricity driving inflation, undermining the euro currency and threatening to drag economies into recession as Russia squeezed supplies since its invasion of Ukraine six months ago. 

Failure to contain the crisis threatens to spur social unrest and political upheaval, if the supply crunch leads to blackouts and cold homes this winter. 

Read more: French Electricity Price Surges Past 1,000 Euros for First Time