Corporate DispatchPro
The Fit for 55 package will not be enough if the transition does not incorporate a social dimension The ‘Fit for 55’ package will not be enough if the transition to a greater European economy does not incorporate a social dimension, Member of the European Parliament Josianne Cutajar said. The “Fit for 55” package proposes an unprecedented set of ambitious objectives and plans to be implemented by 2030. A key component is the significant revision and strengthening of the EU Emissions Trading System (ETS) targets and carbon pricing signals in line with the proposed 2030 ambitions. She noted that there is strong consensus of the public in favour of the achieving climate neutrality. An overwhelming majority of 78 % of European citizens, and 86 % of Maltese citizens consider climate change to be a very serious problem, according to Brussels’ chief statistics office. She was speaking as energy prices soared across Europe. Electricity prices are hitting record highs, slamming people with higher power bills and putting politicians on the spot. In Spain and Portugal, average wholesale power prices are around triple their level half a year ago at €175 per megawatt-hour. In the U.K., they’ve reached an eye-watering €183.84 per megawatt-hour — now the most expensive rate in Europe. Politicians are rushing to protect industries, and especially consumers, from higher bills. “It’s true: the sharp rise in energy prices is caused by several factors, including our dependence on suppliers from outside the 43
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