Estonia will support intervention in the electricity market at the meeting of the European Union's energy ministers on Friday and will advocate for the decoupling of gas and electricity prices.
"Today we reached an agreement on the positions with which the Minister of Economic Affairs and Infrastructure will go to the emergency meeting of the European Union's energy ministers tomorrow [September 9]. We support the discussion for quick intervention in the electricity market and the decoupling of gas and electricity prices," Prime Minister Kaja Kallas (Reform) said at the government's press conference on Thursday.
Kallas said, based on tomorrow's discussions, ministers will create guidelines for countries about how they can combat high energy prices.
While Estonia supports intervention in the electricity market, it is also seen as important to maintain investors' confidence and interest in investing in renewable energy and to understand the necessity of the green transition, the prime minister said.
Estonia also wants initiatives to include proposals for managing energy consumption and that the motivation to save energy is maintained, she added.
Minister of Economic Affairs and Infrastructure Riina Sikkut (SDE) said the government will approve Estonia's positions today and there are six key points.
These are: 1) Supporting temporary intervention in the electricity market and the decoupling of electricity and gas prices; 2) Increasing the transparency of the Estonian electricity exchange and allowing the price ceiling to fall; 3) Offering help to energy companies to prevent bankruptcies; 4) Reducting electricity consumption - but taking into account climates of each country; 5) Supporting a low price ceiling for Russian energy carriers and ending energy imports from Russia; and 6) Reforming the Emission Trading System (ETS).
At the same time, Estonia considers EU-wide solutions important, Sikkut said.
Editor: Mait Ots, Helen Wright