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EU Ministers Meet to Discuss Energy Crisis Measures

ENERGY

EU energy ministers meet in Prague today seeking ways to ease pressure on Europe’s energy crisis this winter.

  • The aim of the meeting is to show enough agreement to allow the Commission to present a set of new proposals before EU leaders gather in Brussels next week.
  • Gas price caps have been touted and widely supported but Germany have said it could spur more demand at a time higher prices should be discouraging demand.
  • Progress may be made over joint gas purchases before storage refilling season next year, but a broader price cap on gas imports is further off.
  • Germany and the Netherlands are expected to put forward a 10-point plan that focuses on the joint purchase of gas to stop individual countries from outbidding each other on the markets.
  • A price cap on Russian gas may also be considered.
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