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EU Ministers Back Extension of Gas Price Cap

NATURAL GAS

EU energy ministers backed plans on Tuesday to extend its emergency cap on gas prices for another 12 months until January 2025, as well as two other emergency gas measures.

  • The agreement by ministers on Tuesday needs to be adopted in writing, but that step is usually a formality.
  • "Despite the relatively good start of the winter, the geopolitical situation remains very fragile. And these emergency measures help us to shield our consumers against excessive energy prices," EU Energy Commissioner Kadri Simson said.
  • The bloc also decided to extend the faster permitting scheme for renewables and the rules to ensure countries share gas during a shortage.
Energy BulletsCommodities
Energy BulletsCommodities

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