The energy crisis will be painful for many Europeans and emergency measures are needed to ensure gas keeps flowing to keep people warm for the next few months. But the EU must also recognise that this is good money thrown after bad, writes Jonathan Gant.
The EU's 27 energy ministers on Friday (11 June) came to an uneasy compromise on the revision of EU rules covering investments in cross-border energy infrastructure, the so-called TEN-E regulation. The fraught debate sets an unwelcome precedent for future debates over gas.
Eleven countries, including Germany, Denmark and the Netherlands, were set to reject a plan to prolong EU support for cross-border natural gas projects, and instead push for rules to exclude fossil fuels, according to a document seen by Reuters.
Eleven EU countries have signed a declaration calling on the European Union to stop funding fossil fuels under its trans-European energy infrastructure regulation (TEN-E), which is currently under revision.