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EU Leaders Fail to Agree on Energy Amid Carbon Price Dispute

  • Poland, Czech Republic wanted tougher line on emissions market
  • Carbon, power prices are soaring to records on energy crunch
Mateusz Morawiecki
Mateusz MorawieckiPhotographer: Dursun Aydemir/Anadolu Agency/Bloomberg
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European Union leaders failed to reach a deal on how to react to the unprecedented gas crisis that sent energy prices to record levels after Poland and the Czech Republic demanded stronger action to cap the costs of pollution.

After two rounds of heated talks at a summit Thursday in Brussels, the heads of government dropped plans to adopt a statement on the energy crunch. The differences in their assessments of the spike in power, natural gas and emissions costs proved insurmountable, according to two diplomats with knowledge of the talks. A planned regulation by the EU’s executive arm on how to classify nuclear energy and gas in the bloc’s green rulebook was also a contentious issue.