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EU Gas Price Cap Talks Remain in Play this Week

NATURAL GAS

Ursula von der Leyen, President of the EU Commission is to push for a European gas price cap this week as well as financial support measures to allow fair competition between member states.

  • A declaration is still being negotiated for the meeting in Prague on Friday, which invites the European Commission to work on “proposing workable solutions to reduce prices through gas prices cap”.
  • Talks on a gas price cap have been running for weeks but have faced opposition from Germany, Denmark and the Netherlands stating concerns about security of supply. Meanwhile, 15 EU nations are in favor of a cap.
  • Von der Leyen has proposed a temporary solution in the form of a gas price cap until a new EU price index was in place – stating that TTF was no longer representative of a market that comprises more LNG.
Energy BulletsCommodities
Energy BulletsCommodities

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