How will the EU target high energy prices?

The European Commission has laid out its plans for tackling the spike in energy prices in the EU. Their action plan is split into immediate and medium-term measures. The Commission wants to help poorer consumers to pay their bills or defer payments. They’ll also provide aid to prop up energy-intensive companies and industries while investigating energy firms for anti-competitive behaviour. Looking further ahead, the EU says it will step up investment in renewables, set up gas risk groups to prevent a repeat of the price peaks. It also says consumers will be empowered to choose and change their suppliers.