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EU To Detail Gas Price Controls On Friday

ENERGY

The EU plans to advance talks on Friday on how to control the current energy crisis with surging natural gas prices, Bloomberg said.

  • The details of the market correction mechanism are to be presented on Friday.
  • EU leaders last month unanimously called on the European Commission to propose measures including a temporary “dynamic price corridor,”.
  • The European Commission’s energy chief, Kadri Simson, said on Wednesday that it hasn’t ruled out any measures to rein in prices, after the bloc signalled a price cap on imported gas was not the most efficient tool to deal with the crisis.
  • “To move the decision-making process forward, the commission will present the key elements of the price correction mechanism,” Simson said in an e-mailed statement.
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