Brussels has been warned of increasing discontent across the bloc over fears of EU-wide Yellow Vests protests.
Carbon prices across the EU are reaching record-high levels as energy companies prepare to comply with the EU Commission’s new Fit for 55 green rules.
The issue is set to spark a clash between the EU executive and the European Parliament where the legislation will be discussed on Tuesday.
Across the EU, protests are already erupting against an increase in energy bills, with Spaniards currently taking the lead on the streets of the country.
The daily average price of electricity in the wholesale market broke a new historical record last month in Spain, reaching €124.45 per megawatt per hour (MWh).
Carbon dioxide is also getting ever more expensive in Poland topping €60 for a ton, 12 times more than four years ago.
Polish Prime Minister Mateusz Morawiecki blamed the EU for the rising prices at a conference last week.
He said: “We have here the very expensive climate policy of the European Union.”
Spanish Vice President and Finance Minister Nadia Calviño warned of “social unrest” across the bloc unless Brussels ensures the “green transition” is also “a socially fair transition”.
She told reporters: “We need to be very mindful of the need to adjust our rules … to ensure that we avoid situations such as the one we are living right now with a very strong increase of CO2 prices and also gas prices.
“That’s obviously creating unrest in our populations and pressing … governments to take measures … to minimize the negative impact on household incomes and on the competitiveness of companies, in particular SMEs.”
Fears the increase in prices could spark EU-wide Yellow Vests protests across the bloc are rising among some EU Commissioners.
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