EU Proposes Brake on Gas Prices as Russia Squeezes Again
- The cap would only be triggered if a series of conditions met
- Measure is not a ‘silver bullet,’ EU’s energy chief says
This article is for subscribers only.
The European Commission proposed an emergency brake on natural gas prices way above current levels, as it seeks to contain the economic damage from Russia’s tightening squeeze on energy supplies.
After months of wrangling and divisions within the bloc, the commission proposed a cap level of €275 per megawatt-hour. It’s well above current levels of about €120, raising the question of whether it will ever be used.