The reform of the European Union's emission trading system (ETS) is set to be clarified in the spring, as the European Commission is expected to present proposals in March on potential reorganizations of the system. The ETS has been identified as one of the contributing factors to the high energy prices in Europe, which in turn are impacting the competitiveness of companies on the global market. There is significant pressure on the Commission to address these issues, particularly from industry leaders who argue that high energy costs are threatening their viability compared to competitors from countries like China and the U.S.

On Thursday, leaders from EU states gathered at the Alden Biesen Castle in northern Belgium to discuss strategies for accelerating economic development within the union. The agenda included measures to reduce administrative burdens and market barriers, alongside addressing the soaring energy prices. This gathering followed a meeting the previous day at Antwerp’s old stock exchange, where European industrial leaders expressed concerns over energy costs being nearly double that of their counterparts in major global economies.

The combined advocacy from industry executives and the urgency felt among member states is creating a pressing need for the European Commission to take effective measures regarding the ETS, as it holds significant implications for the EU's economic landscape. As the spring approaches and more concrete proposals are anticipated, both industries and governments are watching closely to understand how these reforms might reshape the competitive dynamics of the European market in light of ongoing energy price challenges.