Brussels: Europe and the Arabs
In a concluding statement of the discussions on the first day of the summit, which continued until the early hours of Friday morning, European Union leaders said that in order to confront Russia's energy armament, the European Union must remain united to protect its citizens and companies and take the necessary measures urgently.
The European Council agreed that, in light of the ongoing crisis, efforts to reduce demand, ensure security of supply, avoid rationing, lower energy prices for households and businesses across the Union, and preserve the integrity of the single market should be accelerated and intensified.
Through the statement, the leaders called on the European Council and the Commission to urgently make concrete decisions on the following additional measures, as well as on the Commission's proposals, after assessing their impact in particular on existing contracts, including not affecting long-term contracts, and taking into account energy differences and circumstances. National:
First: the voluntary joint purchase of gas, except for the binding demand for a volume equivalent to 15% of the needs of filling storage, according to national needs, and accelerating negotiations with trusted partners to search for mutually beneficial partnerships by exploiting the collective market of the Union and making full use of the EU energy platform, which is Also open to Western Balkan countries and the three associated Eastern Partners
secondly a new supplementary standard by early 2023 that more accurately reflects conditions in the gas market;
Third, a temporary dynamic price corridor for natural gas transactions to immediately reduce episodes of gas price hikes, subject to the safeguards provided in Article 23(2) of the proposed draft Council Regulation on October 18, 2022;
Fourthly, establish an EU temporary framework for reducing the price of gas in electricity generation, including a cost-benefit analysis, without adjusting the order of merit, while preventing increased gas consumption, and addressing the financing and distributional implications and their impact on flows outside EU borders;
Fifth: Improving the performance of energy markets to increase market transparency, ease liquidity pressures, and eliminate factors that increase gas price volatility, while ensuring financial stability is maintained;
VI. Fast-track simplification of permit procedures in order to accelerate the deployment of renewable energy sources and grids, including with emergency measures based on Article 122 TFEU

VII Energy solidarity measures in the event of a gas supply interruption at the national, regional or union level, in the absence of bilateral solidarity agreements
viii increase efforts to save energy;
IX Mobilization of relevant tools at the national and EU level. At the same time, the immediate priority is to protect families and businesses, especially the most vulnerable in our communities. Maintaining the union's global competitiveness is also essential. All relevant instruments at the national and EU level must be mobilized to enhance the resilience of our economies, while preserving Europe's global competitiveness and upholding a level playing field and the integrity of the single market.
The European Council is committed to closely coordinating policy responses. It stresses the importance of close coordination and joint solutions at the European level, where appropriate, and is committed to achieving our policy objectives in a unified manner.
The Council will continue to closely monitor economic developments and is committed to further strengthening our coordination, in order to provide a resolute and agile political response.
The European Council, which includes EU member states, reiterated the need to increase investments in energy efficiency, future energy infrastructure, including connectivity, storage, and innovative renewable technologies.
The European Council called on the Commission to accelerate work on structural reform of the electricity market, including an impact assessment, and calls for further progress towards a full energy union that serves the dual objective of European energy sovereignty and climate neutrality.
The European statement concluded by saying, "The European Council will keep this issue under consideration." Today, Friday, the leaders will continue discussions on the second and last day of the summit on many current issues related to the internal European situation as well as regional and international