Hopes a political deal amongst European energy ministers could trigger an agreement at the Brussels leaders summit mid-December.
European Union energy ministers have deferred agreement on joint procurement, new rules to accelerate deployment of solar and wind energy and its controversial gas price cap until December 13, an EU source told MNI.
The comments suggest that the ministers are aiming to have the cap endorsed by EU leaders at the Brussels summit on Dec 15-16 as reported by MNI Wednesday.
The cap has been resisted by Germany thus far on fears that LNG exporters would respond by seeking higher prices in Asia. The Commission has sought to address German concerns by setting a high EUR275 MW/h on month-ahead TTF contracts and an EUR58 spread between TTF and spot LNG prices. Countries like Spain and France have criticised the ceiling for being too high