The European Commission is analyzing a possible extension of a cap on the price of natural gas
22 Octombrie 2023, 19:19
The European Commission is analyzing a possible extension of a cap on the price of natural gas imposed in February. The move comes amid concerns that sabotage of the Baltic Sea pipeline and conflict in the Middle East could lead to another rise in prices this winter.
The Community Executive is to present a proposal in this regard next month, along with other measures in the field of energy, according to the Financial Times publication. Catalina Cretu reports.
Reporter: The natural gas price cap was passed in the spring, with Germany and Austria initially opposed, fearing the measure would distort markets and exacerbate supply problems. The European Commission claims that there is no indication of any negative effects after the cap came into force and, moreover, the price of natural gas is now almost 90% below last year's level.
Several European diplomats said that despite lower energy prices and the fact that gas storages are full, supplies this winter could be affected by the war between Israel and Hamas and potential sabotage of gas infrastructure. So, an insurance policy would be needed on this, they say.
In a document sent to Brussels the other day, initiated by Austria and signed by ten other states, a greater focus on energy from renewable sources is called for. Germany and France are also pressing the EU executive to extend state aid provisions, which allow governments to support consumers hit by high energy prices due to the war. These measures are set to expire on December 31.
Translated by: Radu Matei
SOURCE: Radio Romnia Actualități