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The Editors

Price Controls Won’t Help Europe Keep the Gas On

There are better ways to support consumers and encourage renewables — without undermining the market.

Hot topic.

Hot topic.

Photographer: Natalia Kolesnikova/AFP/Getty Images

The European Union has yet again found itself at an impasse. With Russia withholding gas supplies, governments must find ways to mitigate the shock of high prices, protect the vulnerable, discourage consumption, and speed the switch to alternative energy.

Unfortunately, EU officials are toying with an idea that’s all too likely to make things worse: a price cap.