Council Regulation (EU) 2022/1854 on an emergency intervention to address high energy prices was published on 6 October 2022. The purpose of the Regulation is to take measures to address high electricity prices resulting from increased natural gas prices, shortfalls in electricity generation from nuclear power plants, limited generation from hydropower plants and increased consumption. Rising prices in wholesale electricity markets have led to a sharp increase in retail electricity prices in the EU. Due to the need for a rapid and coordinated response at Union level, Regulation (EU) 2022/1854 has been adopted to encourage, support and provide guidance to Member States on appropriate coordinated measures to reduce electricity demand. Reducing demand at national level can have a positive impact on electricity prices across the Union, as electricity markets are linked and savings in one Member State also benefit other Member States. Member States should therefore aim to reduce their total gross electricity consumption by all consumers.

COUNCIL REGULATION (EU) 2022/1854 of 6 October 2022 on an emergency intervention to address high energy prices