According to the authority, these companies are recording “unexpected revenues”, in the current context of strong price increases. “It is time for consumers to take advantage of lower costs,” he said, noting that the European Commission would propose “redirecting” these windfall profits to support businesses and individuals in vulnerable situations.

In Von der Leyen’s view, there must also be a strategy to reduce peak periods of energy use, and to contain costs. Ursula said a mandatory target would be proposed to reduce peak electricity use.

The European Commission president added that fossil fuel companies are making “huge profits”. According to her, the European Union will propose a “solidarity contribution” to oil and gas companies in this context. On the other hand, energy utilities must receive liquidity support to deal with high volatility in prices.

Von der Leyen also criticized Russian President Vladimir Putin in his letters, accusing him of manipulating the energy sector. According to her, the EU intends to pass measures to protect the most vulnerable, preserve political unity, while reducing Russia’s income by buying less gas from the country.