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France Proposing EU Should Cap Gas to Electricity Costs

NATURAL GAS

France has suggested the EU caps the price of gas used to produce electricity to tame surging energy costs.

  • A number of EU countries are seeking deeper EU intervention to control soaring energy prices.
  • "A price cap mechanism for gas used to produce electricity is currently the most effective and the least expensive measure to reduce electricity prices in Europe," the French proposal said.
  • France said a gas price cap that would apply across European wholesale markets rather than just for gas-fuelled electricity could be considered, but was not the priority option.
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France has suggested the EU caps the price of gas used to produce electricity to tame surging energy costs.

  • A number of EU countries are seeking deeper EU intervention to control soaring energy prices.
  • "A price cap mechanism for gas used to produce electricity is currently the most effective and the least expensive measure to reduce electricity prices in Europe," the French proposal said.
  • France said a gas price cap that would apply across European wholesale markets rather than just for gas-fuelled electricity could be considered, but was not the priority option.