Commission considers ceiling on gas price in case of complete interruption of Russian supply


The European Commission does not intend to insist on enforcing EU competition rules to allow member state governments to impose a price cap on consumers in the event of a complete shutdown of Russian gas supplies, according to the German newspaper Welt am Sonntag. which cites a Commission document on “short-term energy market interventions”.

According to the document, EU member states should be allowed to adjust prices for a transitional period in order to prevent a sharp rise, even before a sharp shortage, Welt reports.

“Funding for this intervention requires significant sums,” the German newspaper quoted the document as saying.

Last March, the EU warned that seeking to impose a wholesale price ceiling on gas would cause problems and undermine efforts to turn to green energy.

The European Commission is set to unveil a detailed plan this month to cut off fossil fuel imports from Russia by 2027 in response to the Russian invasion of Ukraine. The European Union imports 40% of its natural gas from Russia.

Source: ΑΠΕ-ΜΠΕ

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