Czech Prime Minister Andrej Babiš spoke at the informal European Council meeting in Nicosia with a sharp warning about the impact of the current EU energy policy. In his speech, he stressed that high energy prices are no longer a temporary problem and are becoming a structural threat to the European economy.
„We must openly admit that energy prices in the European Union remain higher than those of our main competitors in the long term,“ Babiš said. According to him, these are no longer just short-term fluctuations, but a factor that fundamentally influences investors„ decision-making. “Today, it is the price of energy that determines the location of investments and the future of industry," He added.
The Prime Minister also pointed to the growing importance of energy security, especially in the context of tensions in the Middle East. „Energy security is not a peripheral issue, but one of the fundamental pillars of Europe's economic stability and social cohesion,“ He said.
In his presentation he worked with concrete data. According to him, the European Union consumes around 330 billion cubic meters of gas annually, while its own production covers only ten percent. „We import about 90 per cent of our gas and two countries - Norway and the United States - account for about 60 per cent of our imports today,“ he reminded.
He was critical of the planned regulation of methane emissions. „Without transitional measures, up to 43% of current gas imports to the EU could be at risk,“ he warned, adding that this is comparable to the loss of Russian supplies after 2022. According to him, this uncertainty is already having an impact on prices and investment.
Babiš also referred to the current proposal of the European Commission. „This package does not bring any European solutions. It merely allows Member States to subsidise more from their own budgets,“ he said. He warned that such an approach would lead to market fragmentation and an uneven playing field.
He devoted a major part of his speech to the system of emission allowances. „The ETS has become one of the key drivers of high electricity prices,“ he said, calling for its modification. He suggested, for example, freezing benchmarks or more support for industry in exchange for decarbonisation commitments.
Finally, the Prime Minister stressed the need for a swift response. „If we want to maintain competitive industry and affordable energy, we need to act quickly, in a coordinated way and with economic realism,“ He concluded.
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