European Union energy ministers on Friday adopted a package of measures to soothe the energy crisis, including a windfall levy on profits by fossil fuel companies, but a deal on capping gas prices remained off the table.
With energy prices skyrocketing across Europe since the Russian invasion of Ukraine, EU member countries reached a deal on proposals from the European Commission that the bloc's executive arm said could help raise $140 billion to help people and businesses hit by the crunch.
The measures include a levy on surplus profits made by companies producing or refining oil, gas and coal. The two other main elements of the plan are a temporary cap on the revenues of low-cost electricity generators such as wind, solar and nuclear companies, as well as an obligation for the 27 EU countries to reduce electricity consumption by at least 5% during peak price hours.
The text should be adopted next week and enter into force soon after.
Estonian Economic Affairs and Infrastructure Minister Riina Sikkut said that "the most promising measure to actually bring down the average price is still the reduction of peak consumption."
Sikkut underlined that any hardship this winter will be nothing compared with the price being paid by Ukrainians. "We can't forget that we are in a situation of war. Ukrainians are paying with their lives, so we temporarily may pay higher bills or prices in the food store," she said.
The measures, however, will not have an immediate effect on the gas prices that have been running wild as Russia reduced its supplies.
"This is just the first part of the puzzle and an immediate patch," said Czech Industry and Trade Minister Jozef Sikela, who chaired the meeting in Brussels. "We must not stop here; we are in an energy war with Russia; the winter is coming. We need to act now... Now means now. Now is not in a week and definitely not in a month."
A group of 15 member countries has urged the European Commission -- the EU's executive arm -- to propose a cap on the price of wholesale gas as soon as possible to help households and businesses struggling to make ends meet.
"The price cap that has been requested since the beginning by an ever increasing number of member states is the one measure that will help every member state to mitigate the inflationary pressure, manage expectations and provide a framework in case of potential supply disruptions, and limit the extra profits in the sector," they said.
The proposal will be discussed during Friday's meeting but has yet to gather unanimous support, with Germany notably blocking.
The European Commission has warned in an analysis that such a cap could weaken the bloc's ability to secure gas supplies on the global market. But it is open to the idea of introducing a price cap on Russian gas to mitigate the impact of the crisis while negotiating a lower gas price with other suppliers.
"We are negotiating with our reliable suppliers of pipeline gas. If this doesn't bring results, then a price cap is possible. Russia is not a reliable partner. In fact, it is at the origin of the problem," said Kadri Simson, the EU commissioner for energy. "I strongly believe we need a price cap on all Russian gas imports, at a level that still makes it attractive for them to export to Europe."
According to the European Commission, Russian gas supplies to the EU declined by 37 per cent between January and August this year.
A man set himself on fire on Friday outside the New York courthouse where Donald Trump's historic hush-money trial was taking place as jury selection wrapped up, but officials said he did not appear to have been targeting Trump.
Michael Gordon Jackson, a Saskatchewan man accused of abducting his daughter to prevent her from getting a COVID-19 vaccine, has been found guilty for contravention of a custody order.
Scottish comedian Samantha Hannah was working on a comedy show about finding a husband when Toby Hunter came into her life. What happened next surprised them both.
Soulful gospel artist Mandisa, a Grammy-winning singer who got her start as a contestant on 'American Idol' in 2006, has died, according to a statement on her verified social media. She was 47.
A Manitoba woman thought she found a miracle natural supplement, but said a hidden ingredient wreaked havoc on her health.
One day after a Montreal police officer fired gunshots at a suspect in a stolen vehicle, senior officers were telling parliamentarians that organized crime groups are recruiting people as young as 15 in the city to steal cars so that they can be shipped overseas.
The Body Shop Canada is exploring a sale as it struggles to get its hands on enough inventory to keep up with "robust" sales after announcing it would file for creditor protection and close 33 stores.
Police in Sault Ste. Marie charged a 22-year-old man with animal cruelty following an attack on a dog Thursday morning.
Bank of Canada governor Tiff Macklem says Canada's fiscal position has 'not changed significantly' following the release of the federal government's budget.
Michael Gordon Jackson, a Saskatchewan man accused of abducting his daughter to prevent her from getting a COVID-19 vaccine, has been found guilty for contravention of a custody order.
One day after a Montreal police officer fired gunshots at a suspect in a stolen vehicle, senior officers were telling parliamentarians that organized crime groups are recruiting people as young as 15 in the city to steal cars so that they can be shipped overseas.
A family trip took a frightening turn for Christopher Won when he was diagnosed with flesh-eating disease while in Hong Kong and now, after weeks of treatment overseas, the Vancouver firefighter is back home recovering.
Saskatoon police say they will begin searching the city’s landfill for the remains of Mackenzie Lee Trottier, who has been missing for more than three years.
The B.C. First Nation involved in the ongoing effort to rescue a stranded killer whale calf on Vancouver Island has asked the government for financial support – but Prime Minister Justin Trudeau was non-committal when asked about the request Friday.
Several Nova Scotia groups that assist women are speaking out against comments on domestic violence by Justice Minister Brad Johns, and at least one is calling for his dismissal.
Israel and Iran on Friday both played down an apparent Israeli airstrike near a major air base and nuclear site in central Iran, signalling the two bitter enemies are ready to prevent their latest eruption of violence from escalating into a full-blown regional war.
Some 800,000 people in a Sudanese city are in 'extreme and immediate danger' as worsening violence advances and threatens to "unleash bloody intercommunal strife throughout Darfur," top UN officials warned the Security Council on Friday.
New York lawmakers are proposing rules to humanely drive down the population of rats and other rodents, eyeing contraception and a ban on glue traps as alternatives to poison or a slow, brutal death.
A full jury of 12 people and six alternates was seated Friday in Donald Trump’s hush money case, setting the stage for opening statements next week in the first criminal trial of a former U.S. president.
Group of Seven foreign ministers warned of new sanctions against Iran on Friday for its drone and missile attack on Israel, and urged both sides to avoid an escalation of the conflict.
Armenia has agreed to return to Azerbaijan four villages situated on their shared border, Azerbaijani Foreign Ministry spokesperson Aykhan Hajizada said on Friday.
Bank of Canada governor Tiff Macklem says Canada's fiscal position has 'not changed significantly' following the release of the federal government's budget.
Canada's premiers are warning the federal government not to overreach into their jurisdictions when it comes to delivering the programs laid out in Ottawa's latest budget.
Canada called for 'all parties' to de-escalate rising tensions in the Mideast following an apparent Israeli drone attack against Iran overnight.
Dengue cases are surging in the Americas, with cases reported topping 5.2 million as of this week, surpassing a yearly record set in 2023, according to the Pan American Health Organization (PAHO).
The World Health Organization is likely to issue a wider warning about contaminated Johnson and Johnson-made children's cough syrup found in Nigeria last week, it said in an email.
The Canadian Food Inspection Agency is encouraging veterinarians to keep an eye out for signs of avian influenza in dairy cattle following recent discoveries of cases of the disease in U.S. cow herds.
Olympic organizers unveiled their strategy Friday to use artificial intelligence in sports, joining the global rush to capitalize on the rapidly advancing technology.
An ancient giant snake in India might have been longer than a school bus and weighed a tonne, researchers reported Thursday.
New archeological investigations in Guatemala reveal that the ancient Maya people had a ritual of burning royal human remains as a public display of political regime change.
She's the title character of 'Bluey,' a kids' program consisting of seven-minute episodes that have enraptured children and adults alike. This week's release of its longest episode yet — at a whopping 28 minutes — prompted an outpouring of appreciation for the show, even from those who are neither toddler nor parent.
During a guest appearance on 'Jimmy Kimmel Live,' Nick Offerman told a story from years ago he said his parents didn't know: he once spent a night in jail.
On Friday, the pop star released her 11th album and at 2 a.m. Eastern, she released "The Tortured Poets Department: The Anthology," featuring 15 additional songs.
Lululemon Athletica will close its distribution centre in the state of Washington at the end of the year and lay off more than 100 employees, the apparel retailer told Reuters on Friday.
Netflix shares fell on Friday, as its surprise move to stop sharing subscriber additions and average revenue per member from 2025 sowed doubts in investor minds about growth peaking in some markets for the streaming pioneer.
The Body Shop Canada is exploring a sale as it struggles to get its hands on enough inventory to keep up with "robust" sales after announcing it would file for creditor protection and close 33 stores.
Hospital chaplain J.S. Park opens up about death, grief and hearing thousands of last words, and shares his advice for the living.
Saturday marks marijuana culture’s high holiday, 4/20, when college students gather — at 4:20 p.m. — in clouds of smoke on campus quads and pot shops in legal-weed states thank their customers with discounts.
In this season of the podcast Chasing Life With Dr. Sanjay Gupta, CNN’s chief medical correspondent has explored the topic of weight: what it really tells you about your health, why it’s so hard to lose, how the new diet drugs work and its links to menopause (you can listen to the episodes here).
The U.S.’s Federal Aviation Administration is investigating a video that appears to show unauthorized personnel in the cockpit of a charted Colorado Rockies flight to Toronto.
The Winnipeg Jets will face the Colorado Avalanche for the first time ever in the Stanley Cup Playoffs
Eight of Formula One legend Michael Schumacher's luxury and personalized watches are going up for auction – and they could sell for more than US$4.8 million in total.
One day after a Montreal police officer fired gunshots at a suspect in a stolen vehicle, senior officers were telling parliamentarians that organized crime groups are recruiting people as young as 15 in the city to steal cars so that they can be shipped overseas.
Tesla is recalling 3,878 of its 2024 Cybertrucks after it discovered that the accelerator pedal can become stuck, potentially causing the vehicle to accelerate unintentionally and increase the risk of a crash.
A driver from London will have to find alternative transportation after an OPP officer clocked them travelling nearly 200 km/h on Highway 401 over the weekend.
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.
Molly Knight, a grade four student in Nova Scotia, noticed her school library did not have many books on female athletes, so she started her own book drive in hopes of changing that.
Almost 7,000 bars of pure gold were stolen from Pearson International Airport exactly one year ago during an elaborate heist, but so far only a tiny fraction of that stolen loot has been found.
When Les Robertson was walking home from the gym in North Vancouver's Lower Lonsdale neighbourhood three weeks ago, he did a double take. Standing near a burrow it had dug in a vacant lot near East 1st Street and St. Georges Avenue was a yellow-bellied marmot.
A moulting seal who was relocated after drawing daily crowds of onlookers in Greater Victoria has made a surprise return, after what officials described as an 'astonishing' six-day journey.
Just steps from Parliament Hill is a barber shop that for the last 100 years has catered to everyone from prime ministers to tourists.
A high score on a Foo Fighters pinball machine has Edmonton player Dave Formenti on a high.
A compound used to treat sour gas that's been linked to fertility issues in cattle has been found throughout groundwater in the Prairies, according to a new study.
A rescue operation for an orca calf trapped in a remote tidal lagoon off Vancouver Island has been put on hold after it started eating seal meat thrown in the water for what is believed to be the first time.
Mounties say seven people have been arrested after a series of co-ordinated property searches on Vancouver Island yielded multiple firearms, including 3D-printed handguns, and several kilograms of drugs.
A 31-year-old man has been charged after allegedly threatening two people with an imitation gun in Vancouver's Downtown Eastside this week.
Ontario Registered Early Childhood Educators (RECEs) are still waiting for their promised 2024 wage increases and advocates say the delay is causing stress for workers.
The U.S.’s Federal Aviation Administration is investigating a video that appears to show unauthorized personnel in the cockpit of a charted Colorado Rockies flight to Toronto.
Police have released video footage of a dramatic takedown of a group of teens wanted in connection with an attempted carjacking in Markham earlier this month.
It seemed like their world was crashing in when free mental health services changed the lives of a Calgary family and now they are trying to help others get the same support.
Winston Campbell granted bail at first court appearance
More than three dozen of Alberta's largest water users have agreed with a provincial plan to cut back on water usage this year ahead of a severe drought expected this summer.
Time could soon run out on free on-street parking in Ottawa's Westboro, Wellington West and Hintonburg neighbourhoods.
As the City of Ottawa faces a housing shortage, there is controversy brewing in Centretown over a proposed redevelopment that many tenants say could leave them homeless.
Ontario Provincial Police are reminding people that it is illegal to fly a drone over traffic collision sites, after drone footage captured over a fatal crash on Hwy. 417 in Ottawa appeared online.
One day after a Montreal police officer fired gunshots at a suspect in a stolen vehicle, senior officers were telling parliamentarians that organized crime groups are recruiting people as young as 15 in the city to steal cars so that they can be shipped overseas.
A 39-year-old woman was sent to hospital with serious injuries after police say she was stabbed inside a motel room in Montreal's west end Friday morning.
There was once a beautiful restaurant on the ninth floor of the former Eaton's department store. It closed 25 years ago, but many in Montreal still talk about it. Soon, Le 9ieme will open to diners once again.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
Alberta has done little to advance its plan to reduce greenhouse gas emissions a year after introducing it, an analysis suggests.
Edmonton police have laid additional child-luring charges against a man after another girl came forward to accuse him of crimes.
The RCMP says a 'dangerous man' with a firearm in Bible Hill, N.S., is in custody Friday morning.
Gary Crossman, New Brunswick’s minister of environment and climate change, is resigning from Blaine Higgs’ Progressive Conservative cabinet immediately.
CTV Atlantic meteorologist Kalin Mitchell says a large part of the Maritimes should have ideal viewing conditions for the Lyrid meteor shower Sunday overnight into Monday morning.
Mrs. Mikes shut down last year after a half-century of serving the community. Now its doors have reopened and Winnipeggers were lined up to get their fill, even as snow fell on them.
Tiber River, a shop that sells natural body care products, is ceasing operations.
A Manitoba mother is praising firefighters for their quick work in helping her daughter who got stuck at a playground in Lorette, Man.
Michael Gordon Jackson, a Saskatchewan man accused of abducting his daughter to prevent her from getting a COVID-19 vaccine, has been found guilty for contravention of a custody order.
Saskatoon police say they will begin searching the city’s landfill for the remains of Mackenzie Lee Trottier, who has been missing for more than three years.
Fifteen youth from a variety of backgrounds are taking on the monumental task of creating and performing a live radio broadcast with on seven days to prepare. The goal of the project is to get more youth excited about journalism.
A controversial land acquisition proposed in Wilmot Township is once again in the spotlight, as Ontario NDP leader Marit Stiles hosts a town hall in the community, calling the deal “eerily similar” to the Greenbelt scandal.
A Canadian Hall of Fame golfer from Kitchener is finally getting recognition for starting the skip-shot tradition at The Masters.
Two Kitchener-Waterloo music organizations have placed an employee on a leave of absence after he was charged in a historical sexual assault investigation.
A Saskatoon Provincial Court judge will determine whether testimony from a woman, charged with impaired driving causing the death of a child, will be used as evidence in her trial.
Saskatoon police say they will begin searching the city’s landfill for the remains of Mackenzie Lee Trottier, who has been missing for more than three years.
Michael Gordon Jackson, a Saskatchewan man accused of abducting his daughter to prevent her from getting a COVID-19 vaccine, has been found guilty for contravention of a custody order.
Police in Sault Ste. Marie charged a 22-year-old man with animal cruelty following an attack on a dog Thursday morning.
A flood warning was issued Friday for the Lake Nipissing shoreline in North Bay, Callander and the Parks Creek watershed.
The war of words between the presidents of Sault College and Conestoga College has escalated into a legal battle.
‘Onto Adelaide and just zip down’: Cars no longer have to deal with trains on Adelaide Street North, near Central Avenue.
A witness at the sexual assault trial involving parents is adamant the children involved in the trial are all telling the truth about what they had to endure during their upbringing.
A city councillor said she’s concerned the city is encouraging homeless encampments rather than finding more permanent solutions.
One person has been charged following a collision on Highway 400 in Barrie Friday morning that sent a vehicle rolling into a ditch.
In an interview with CTV's Rob Cooper, conducted just two days into his retirement, Howard reflects on his illustrious career and what lies ahead.
Barrie police Insp. Valarie Gates testified in the preliminary hearing for suspended Sgt. Bruce Gardiner, who stands charged with extortion and criminal harassment.
A Windsor man convicted in a violent murder 20 years ago awaits ruling on bid for early parole.
Windsor police have charged a 21-year-old man with stunt driving following a collision at a commercial property.
An investigation is underway after a body was pulled from the Detroit River.
A rescue operation for an orca calf trapped in a remote tidal lagoon off Vancouver Island has been put on hold after it started eating seal meat thrown in the water for what is believed to be the first time.
Mounties say seven people have been arrested after a series of co-ordinated property searches on Vancouver Island yielded multiple firearms, including 3D-printed handguns, and several kilograms of drugs.
In Colwood, B.C., there are 35 residential homes in the tsunami inundation zone.
A banana ball python that was stolen from a Kelowna pet store on Saturday has been returned unharmed, Mounties said.
Nurses held a rally Wednesday at a hospital in the B.C. Interior that closed its emergency department more than a dozen times last year due to insufficient staff.
British Columbia is planning to add 240 new units to its complex-care housing program, providing homes for people with mental-health and addictions challenges that overlap with other serious conditions.
Mounties say a 32-year-old Medicine Hat woman has been charged in connection with the theft of $60,000 from the Redcliff Legion.
Three men who helped lead and co-ordinate the 2022 border blockade at Coutts, Alta., have been found guilty of public mischief.
Lethbridge police have arrested a Vermilion, Alta., man in connection with a 'grandparent scam' that took aim at a local senior.
The war of words between the presidents of Sault College and Conestoga College has escalated into a legal battle.
A 43-year-old has been charged in Sault Ste. Marie after police recorded a vehicle being driven at 113 km/h, nearly double the posted speed limit.
Police in Sault Ste. Marie charged a 22-year-old man with animal cruelty following an attack on a dog Thursday morning.
Technology from the 19th century has been brought out of retirement at a Newfoundland gardening store, as staff look for all the help they can get to fill orders during a busy season.
A Celebrity Apex cruise to the Caribbean this month turned into a rocking Newfoundland kitchen party when hundreds of people from Canada's easternmost province happened to be booked on the same ship.
A pricing agreement has been reached between crab fishers and seafood processors that will allow for Newfoundland and Labrador's annual crab fishery to get started.
The Shopping Trends team is independent of the journalists at CTV News. We may earn a commission when you use our links to shop. Read about us.
