Leaders to call for ‘workable’ price cap on gas at EU summit

(EurActiv, 4 Oct 2022) EU leaders are set to ask the bloc’s executive at a summit this week to come up with a proposal for capping the price of gas imports in a bid to curb prices, according to a draft statement seen Monday (3 October).

The push for a price cap has divided the EU, with 15 countries demanding the move and economic powerhouse Germany heading a smaller group of member states opposed to the initiative, which comprises Austria, the Netherlands, Hungary and Denmark.

A declaration still being negotiated for the meeting in Prague on Friday, invites the European Commission to work on “proposing workable solutions to reduce prices through gas prices cap”.

The Commission has not yet proposed a cap on gas prices and raised concerns over the idea – suggesting countries instead consider narrower price caps, such as one targeting gas used for power generation only.

The proposal is one of a number of potential measures envisioned as part of “a roadmap for the months ahead,” according to the draft statement, seen by EURACTIV.

“Our efforts to ensure the security of supply and to reduce energy prices need to be continued,” says the draft statement, which also hails recent decisions to lower gas and electricity consumption in Europe.

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EurActiv, 4 Oct 2022: Leaders to call for ‘workable’ price cap on gas at EU summit