Amid mounting political pressure to ease the burden of emissions allowances and even temporarily suspend the EU ETS pending a review, European Commission Executive Vice-President Teresa Ribera on Tuesday defended the bloc’s carbon market.

Presenting a package of longer-term measures to bring down energy prices, the official said, “I don’t think that killing the carbon price is going to send any positive message to anyone,” adding that “It could derail the efforts and could strand early movers, and could prevent our competitiveness.”

Also on Tuesday, the EU Council, representing member state governments, pushed for a review of the EU ETS by July to “reduce volatility in the carbon price and limit its impact on electricity bills,” according to Euronews. Media reports said German Chancellor Friedrich Merz has led calls to accelerate the planned review of emissions trading.

A document seen by Politico, prepared by the European Council ahead of the meeting of EU leaders scheduled for next week, emphasizes that measures should be taken “while preserving the essential role of the ETS in the climate and energy transition.”

Several countries are pressing for more concrete measures, with Italy, Austria and Slovakia among the most vocal due to their higher energy costs. “Such measures may nevertheless set up a clash with other member states that prefer a market-driven approach,” Politico reported.