06/10/2022 (Agence Europe) – The Council of the European Union formally adopted by written procedure, on Thursday 6 October, a legislative proposal to mitigate soaring energy prices. Taking the form of an EU Council Regulation, the legislative text establishes in particular: - a European cap of €180/MWh on the revenues of all inframarginal (lowest marginal cost) electricity producers; - Member States’ electricity consumption reduction targets (a general indicative target and a binding target during peak hours); - a temporary compulsory solidarity contribution to redistribute the excess profits of companies active in the crude oil, fossil gas, coal and refining sectors (see EUROPE 13033/1). All Member States supported the regulation, with the exception of Slovakia and Poland who voted against it. See the regulation: https://aeur.eu/f/3gs (DG)