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EU to Propose Mandatory Power-Demand Cut and Levy on Profits

  • EU plans power-demand cut targets in emergency regulation
  • Member states still need to sign off on steps after talks
Bloomberg business news
EU Seeks Roadmap for Gas Price Intervention
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The European Union is set to propose a mandatory target to cut power use -- a step toward rationing -- along with measures to funnel energy company profits to struggling consumers as it tries to stem the crisis.

The EU’s executive arm will propose its package this week, though it will still need to be signed off by member states. Deep divisions were on display at a meeting of ministers last week and governments are likely to push for changes to Commission President Ursula von der Leyen’s plan.