von der Leyen says EU will tak...


von der Leyen says EU will take action on energy prices

RedFM News
RedFM News

09:34 14 Sep 2022

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The European Commission President says energy companies making record profits, off the back of war, is 'wrong'.

In her State of the Union Address this morning, Ursula von der Leyen discussed the EU's plans to implement a cap on the revenue of companies producing low-cost energy, for high prices.

Member states will also be asked to reduce their overall energy consumption under the plans.

Ursula von der Leyen says people are suffering due to the high prices, and the EU will take action.

"We are proposing a cap on the revenues of companies that produce electricity at low costs.

"These companies are making revenues they never accounted for, they never even dreamt of.

"In these times, it is wrong to receive extraordinary record revenues benefitting from war, and on the back of our consumers."

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