MNI China Daily Summary: Monday, December 9

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EU Set for Emergency Energy Discussions September 9

NATURAL GAS

EU ministers are set to meet September 9 to discuss measures for the region to deal with surging gas and power prices that are damaging industry and sending household bills soaring.

  • The ministers will consider options including a price cap on imported gas, a price cap on gas used to produce electricity, or temporarily removing gas power plants from the current EU system of setting electricity prices.
  • Ministers will also talk about credit line support for energy market participants facing high margin calls.
  • "The margin requirements for futures contracts have increased commensurately with increased daily price fluctuations. This makes it almost impossible for an increasing number of companies to keep their hedging positions open, triggering their withdrawal from the futures markets," an EU document about the talks said.
Energy BulletsCommodities
Energy BulletsCommodities

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