Estonian minister says flexible energy trades could ease soaring prices

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Loosening the EU’s Emissions Trading System (ETS) would lessen the currently dramatic rises in energy prices, Estonia’s Economy and Infrastructure Minister Taavi Aas wrote on Tuesday. The ETS is not the root cause of the recent soar in European gas and electricity prices, but modifications to it could help the situation, he added.

Aas was writing later on Tuesday, after EU-27 energy ministers had met in Luxembourg to discuss rocketing prices and the European Commission’s proposals to counteract them. While numerous countries called for reforms to the EU’s energy market, Estonia and eight other member states declared this unnecessary in a joint statement.

According to Aas, the EU energy market works well, so any change would only slow the renewable energy investments that offer additional capacities.

Source: Baltic Times