Pascal Canfin on EU's energy and Russia strategy

Our strategy is working, and that's very good news.  First leg: economic sanctions.  The economic impact on Russia is much worse than the impact of the sanctions on energy, on our own economy.  It's not perfect on us... but the situation in Russia is much worse than that...  Second leg: military.  Of course, support to Ukraine.  And it works...  But of course it has impact on us as well and we knew that from the very beginning...

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For peak hours, it's putting the pressure on households - not with a policeman in their bedroom, of course -  but putting the pressure on households collectively, saying, "ok, if you have to put your washing machine on, then do it at 5 AM and not at 7, or not at 8 PM..."  Second, we need to cap the revenues - and that's a taxation issue - we need to cap the revenues of electricity and oil and gas companies...  Cap revenue on electricity generation companies in order to get the rents to the member states so that we can invest in solidarity to handle the social consequences and to invest in green energies.  Plus, let's say call it tax, it's one of levy on oil excess profits...  We are in an exceptional situation.  They have excess profits...  We cannot keep that rent untouched.  We will get it, part of it..., and it will be redistributed both on social aspects... and to invest in green technology...

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[The Green Deal] is more than ever alive and more than ever the solution and not the problem.  More renewables means less dependence from Russia, mean less emission.  More efficiency, more investment in green technologies.  All of that is good for the climate, it's good for the Green Deal, it's good for independence from a political point of view.

~ Pascal Canfin, European Parliament Member, Bloomberg TV interview, September 14, 2022