Energy
EU Mulls Lower Gas-Price Cap in Latest Plan to Limit Crisis
- Czech government floats compromise to cut ceiling to €188/Mwh
- European energy ministers to seek deal on cap on Dec. 19
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European Union member states will on Monday discuss a gas-price cap that’s almost one-third lower than an original proposal as they attempt to break a deadlock over the controversial proposal to contain the impact of a historic energy crisis.
The Czech government, which holds the EU’s rotating presidency, suggested lowering the ceiling to €188 euros per megawatt-hour compared with the €275 proposed by the European Commission last month. The latest revision, shared with member states on Saturday and seen by Bloomberg News, comes just days after the bloc’s leaders threw their weight behind a quick agreement on the market intervention measure.