European Gas Gains as Key Crisis Measures May Come Too Late
- Price-cap possible this winter, but well into heating season
- Europe still hostage to LNG supply disruptions, official says
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European natural gas prices rose as some key EU measures to contain the energy crisis seemed to be pushed back, even though unseasonal mild weather is helping keep demand in check.
Benchmark futures rose 4.5%. The European Commission will propose a upper limit on gas prices using a dynamic price mechanism, which could be in place this winter, EU energy commissioner Kadri Simson said. But doubts remain if it’ll come in time for the heating season, and what impact such limits will have on diverting gas cargoes away from Europe.