Explained: The options energy ministers are looking at to cut electricity prices

European Union ministers are on Friday gathering in Brussels for an extraordinary meeting to agree on measures to alleviate the impact of the energy crisis on households and businesses.

The electricity market and its design are set to be at the heart of discussions, not just on Friday but also in the coming months, Suzanna Carp, an independent EU climate policy researcher, explained to Euronews.

This is because the price of electricity is set in the 27-country bloc by the most expensive energy source, which is gas, the price of which has skyrocketed over the past year.

Another topic ministers will debate is whether to levy a temporary tax on non-gas energy producers — renewables, nuclear, coal — some of which have made remarkable profits as their cost of production has remained well below what they were paid, ie the price of gas.

For the researcher, there is cause for optimism.

“I do think that Europe will actually make it through. We are incredibly resourceful. Our diversity is actually our strength,” she argued.

“And I think we are actually because of this, be able to employ the wide range of solutions that we have available within the European Union to overcome the problem.”

Watch our interview with Suzanna Carp in the video player above for more details.