EU Plans to Outline Gas Price Controls at Meeting on Friday
- EU Commission plans to outline gas price correction mechanism
- EU energy chief Kadri Simson comments on gas in statement
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The European Union’s executive plans to advance talks on Friday on how to rein in an unprecedented energy crisis and outline a mechanism to contain soaring natural gas prices, a controversial issue that divides member states.
Governments in the 27-nation bloc are grappling to tackle the spike in energy costs that’s fueling inflation and threatening to push the region into a recession amid reduced supplies from Russia. While EU leaders last month unanimously called on the European Commission to propose measures including a temporary “dynamic price corridor,” the details of such a tool were left unspecified and a rift over how it should be designed is deepening.