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EU Sounds Alarm as Spiking Energy Prices Threaten Recovery

  • European Commission to bolster energy security regulations
  • Price shock is weakening competitiveness: EU energy chief
Kadri Simson
Kadri SimsonPhotographer: Thierry Monasse/Bloomberg
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The European Union sounded the alarm on the potential of soaring energy prices to undermine the bloc’s economy, and pledged new guidance for member states struggling to contain the crisis.

The EU didn’t respond directly to respond to nations’ demands for action, and instead vowed to set out recommendations for member states next week on the measures they can take without undermining EU rules. They will include compensation for the most vulnerable households, tax cuts and state aid for companies, EU energy chief Kadri Simson said Wednesday.