KEBE: The Eurochambers call for immediate business support measures

The Eurochambers are asking for immediate measures to support businesses against the rising prices of electricity and natural gas

70F7E9A7 87E4 4FC1 B67B 089285741D88

The Eurochambers request immediate support measures for businesses against the rising prices of electricity and natural gas, according to a statement from the KEBE.

As announced, the European Union of Chambers of Commerce & Industry met yesterday, September 7 in Prague and they put forward specific proposals from the Chambers. These include targeted financial compensation for businesses, balanced energy saving policies and well-targeted, temporary market interventions.

As stated in the announcement, on the occasion of the extraordinary meeting of EU energy ministers that will take place on Friday, September 9, the Chambers, during a discussion with the Czech EU Minister Mikuláš Bek, underlined the adverse economic effects of high energy costs on the recovery and the competitiveness of Europe.

"Extremely high energy prices could lead to production cuts, which would have disastrous consequences for business, the international competitiveness of the European economy and the labor market," said the President of the European Chambers, Luc Frieden.

The network of Chambers calls for solidarity and European solutions to ensure affordable energy for businesses and consumers, therefore coordinated measures to reduce market demand are welcome, the announcement notes.

It is worth noting that the chambers insist on the fair distribution of efforts between the various consumers.

In addition, it is stated that it is important to ensure that companies that have already made significant investments in energy efficiency are not further burdened. Additional investments in energy efficiency and renewable energy sources should also be made, it is noted.

"We urgently need targeted relief policies, including adequate financial compensation for businesses, as well as fast permitting processes for sustainable projects," Mr. Frieden added.

The European Chambers of Commerce and Industry recognize that temporary interventions in the market are necessary to ensure affordable prices for consumers and for the economic decompression of businesses, the announcement added.

However, as stated, it is vital to ensure that any measures taken do not impede the functioning of the internal energy market, nor jeopardize decarbonisation, security of supply and energy saving efforts, both in the of production, as well as in the consumption sector.

The Chambers are asking for solutions at the European level to avoid unpredictable effects on cross-border energy flows between member states, and the European Commission should take measures and decisions, which will ensure the interests of European businesses, the announcement concludes.

Source: CYPE