EU weighs temporary gas price cap to counter diverging costs with US

Politico Europe

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EU shoots down rumors it will revive divisive gas price cap

Energy firms are concerned about talk of bringing back the politically fraught mechanism.

Financial Post

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Energy Industry Groups Slam Idea of EU Gas Price Controls

Europe’s biggest energy producers and traders warned the European Commission against introducing a gas price cap as a tool during times of crisis, after some offici…

Financial Times

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EU weighs temporary gas price cap to counter diverging costs with US

Proposal draws backlash from industry, warning it could damage ‘trust’

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EU Mulling Gas Price Cap

EU leaders are deliberating instituting a cap on natural gas prices, which have been surging recently, the Financial Times reported on Wednesday.

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An EU gas price cap is "not on the agenda," an anonymous EU official told Politico after the Financial Times reported on the potential plan yesterday, along with a letter from industry groups expressing concerns. Meanwhile, Reuters has learned that EU member states will discuss a possible relaxation of mandatory gas storage filling targets and an extension of the framework today. This could trigger a further sharp drop in gas prices after yester…

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The EU is deeply dependent on gas imports, consuming around 325 billion cubic meters annually but producing only 38 billion cubic meters.