Czech Republic plans to convene EU summit on energy prices

The Czech Republic, which holds the duties of the EU presidency from July 1 to August 31, 2022, plans to convene an extraordinary summit of the relevant ministers of the community in connection with a sharp increase in energy prices in Europe, Minister of Industry and Trade of the Republic Jozef Sikela told reporters, Report informs referring to TASS.

"I am considering the possibility of convening an extraordinary summit of relevant EU energy ministers," he said. "The topic will be high energy prices. This is a pan-European problem, and its solution should also be pan-European."

One way out of the crisis with rising energy prices for EU consumers, according to Sikela, could be to regulate them within the community by setting a cost ceiling. "The situation in the energy market is out of control to a certain extent," the minister noted.

The cost of energy for European consumers is growing rapidly due to the situation around Ukraine, Sikela added. For example, since the beginning of 2022, electricity prices on EU exchanges have jumped by 340%.