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European Gas Price Cap Still Lacking Unanimous Support

NATURAL GAS

EU delegates will meet this week to explore gas price cap options which have divided European nations, but consensus still remains elusive.

  • The majority of EU nations have called on a gas price cap in response to soaring energy costs – though those in favor lack agreement on its mechanism and design.
  • Germany and the Netherlands are the main opposition to a gas cap arguing it could cause demand for gas in Europe to increase and leave the region struggling to attract supplies from the global market if they are unable to compete on price.
  • Kadri Simson, the EU's energy commissioner said last week the gas price cap might be excluded this week if there is not enough backing. Instead, the EU is set to focus on a new gas pricing mechanism as well as capping the price of gas used for power generation.
Energy BulletsCommodities
Energy BulletsCommodities

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