In order to contribute to an objective debate on decoupling the electricity price from the gas price and to create the basis for a quick implementation, AK has commissioned the Austrian Energy Agency (AEA) to examine the effects of the implementation of the Iberian model in a two-part study.

The Executive Summary of the second part of the study regarding the EU-wide implementation of the "Iberian Model":

Following the EU Commission’s presentation of a Directive proposal for an EU Supply Chain Law on 23 February 2022, the Council of the EU agreed on a general approach on 1 December 2022. Even though this agreement is an important step within the legislative process, from AK’s point of view the Council’s position is not ambitious enough.

The EU taxonomy should provide a transparent classification system for investors and companies. In doing so, it is supposed to channel investments towards sustainability. Currently, the taxonomy focuses on environmental goals, while a social taxonomy is not even in its infancy. But there are good reasons to revive the debate. If well-designed, a social taxonomy has the potential to improve the consideration of the social impact of investments and help to prevent social washing. Therefore, the involvement of trade unions must be ensured and it should provide a gold standard.

AK is convinced that the EU-wide implementation of the "Iberian model" to decouple the electricity price from the gas price would contribute significantly to reducing the economic costs of this crisis.

In order to contribute to an objective debate and to create the basis for a quick implementation, AK has commissioned the Austrian Energy Agency (AEA) to examine the effects of the implementation of the Iberian model in a two-part study.

On 6 December 2022, EU Finance Ministers will deliberate on the EU Commission’s guidelines for reforming the fiscal rules. These shall pursue more realistic medium-term targets and include reforms and investments, which are negotiated between Commission and Member States.

Since the dramatic increase in gas and electricity prices over recent months, the EU Commission has presented four emergency regulations. Whilst the first one has already been enforced, at their meeting on 24 November 2022, the energy ministers agreed on two additional regulations. However, so far there has been little support for the fourth Commission proposal for a gas price cap.

On 11 November 2022, Paolo Gentiloni, the European Commissioner for Economy, presented the Autumn Forecast for the economic development in the EU. Following a strong first half of the year 2022, the energy crisis weakens the purchasing power of households and burdens the manufacturing industry. In spite of the Commission’s positive Summer 2022 Interim Economic Forecast, the forecast for 2023 suggests less growth and higher inflation.

New steps on the (re)alignment of EU economic policy can be expected before the end of autumn. Together with more than 180 other organisations and academics, AK has signed an open letter, which calls for a just and sustainable reform of EU fiscal rules.

In this open letter, 37 civil society organisations and trade unions, including AK EUROPA, call on Finance Commissioner Mairead McGuinness to consistently pursue the implementation of a strict and standardised set of rules for corporate sustainability reporting. In particular, it must not come to a situation where individual sustainability aspects are weighed against each other, as the different areas such as environment and social affairs are closely related and a separation would be counterproductive.

Against the background of rising energy prices and high inflation, minimum income schemes have gained even more importance throughout the EU. As a final safety net, well designed minimum income benefits are essential to lift people out of poverty and to prevent the risk of poverty. The EU Commission has now presented a proposal, which shall serve Member States as a guideline for an adequate and inclusive design of their minimum income schemes.