The Energy Ministers believe that energy consumption in EU countries should be reduced by ten percent: five percent mandatory and another five percent voluntary. This should take effect as early as December 1, if their three-point plan is approved next week at an extra EU summit by the heads of government.
The Energy Ministers leave the concrete implementation to the individual EU countries themselves; there will not be a binding package for all countries. It would be a requirement for each individual member state, but each country decides how this will be implemented.
Therefore, the ministers did not agree to the request from the European agricultural umbrella organization Copa-Cogeca to exempt companies in the food chain from the mandatory energy savings. A request from animal welfare organizations to temporarily shut down the 'energy-guzzling' intensive livestock industry was also rejected.
In addition to the mandatory savings (between December and April), the windfall profits from non-fossil fueled wind and solar parks will be skimmed to provide discounts to citizens and businesses, and power plants running on fossil fuels (gas, coal, oil) will have to contribute a 'solidarity contribution' from their profits.
The European Commission has indicated that these excess profits could provide as much as 140 billion euros in support to EU countries, which they can channel to their households and businesses.
A maximum price on the import of Russian gas has not yet been agreed upon. The Netherlands is in favor of it. Several other countries, including Hungary, which is heavily dependent on gas from Russia, are not. The Netherlands believes that other EU countries should support the eastern countries that are still largely dependent on Russian gas.