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EU Price Cap Proposal After Nov. 24th

NATURAL GAS

The European Commission intends to propose a cap on natural gas prices after November 24 according to the EU’s energy policy chief.

  • European nations have struggled to meet consensus on whether to cap prices after opposition from key figures such as Germany and the Netherlands.
  • "We will move swiftly and we will make a legal proposal immediately after ministers will mandate us to do so," EU energy commissioner Kadri Simson said.
  • "We have done our homework. I think that this kind of price cap can allow us to calm the market... it also removes the risk that we will not receive cargoes at all," she said.
  • The cap would be brought in if prices spike to a pre-defined level and cap the price of front-month contract trades on the Dutch TTF gas trading hub.

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