Commission To Announce Energy Price & Security Measures @ 1530CET

European Commission President Ursula von der Leyen, Commissioner for Energy Kadri Simson, and Commissioner for Financial Services, Financial Stability, and Capital Markets Union Mairead McGuinness to deliver a presser at 1530CET (0930ET, 1430BST) regarding the Commission's proposals to help relieve energy price pressures and ensure security of supply.

• Link to livestream:https://audiovisual.ec.europa.eu/en/ebs/live/1
• A full cap on gas prices is set to remain off the table, with member states disagreeing over the consequences of such a move. However, EU Observer reports that "EU leaders would agree to "explore a temporary dynamic price corridor" on gas until the new index [for LNG pricing] is in place." The report also states that "a new temporary intraday price spike cap mechanism "to avoid excessive price volatility"," would be proposed.
• Even the price corridor has its detractors among member states, with opponents arguing that it could result in the EU struggling to attract global LNG supply or spur greater gas use in power generation, by households or businesses.