ACER Casts Doubt On EU Gas Price Cap

The EU’s energy regulator ACER has warned that the gas price cap was unlikely to lower costs for consumers if countries kept on rushing to fill their depleted reserves, calling the mechanism agreed by ministers this week “unprecedented, untested”, according to the FT.

• Christian Zinglersen, director of the EU’s joint energy agency Acer, said he would be “reluctant to rely on this gas price cap” to prevent the types of price spikes that roiled Europe’s energy markets in the summer.
• The EU should have better focused on other measures to solve the energy crisis such as to better regulate the filling of gas containers so that it happened gradually to prevent spikes in demand, he added.