HiTimes Journal

the president of the European Commission, has proposed reforms to the eu’s electricity market and unveiled plans for a proposed windfall tax on energy companies.

Better co-ordination across the eu is needed. So far, Europe’s governments have varied wildly in their response to high energy prices. Some have protected consumers by imposing retail price caps, granting fuel subsidies or cutting consumption taxes on energy bills. Others have allowed energy firms to pass on higher wholesale prices to customers, preferring to concentrate on helping the low-paid directly. Generous untargeted help may be socially or politically expedient. But it also risks undoing incentives