A dozen countries, including Belgium, Italy, Poland and Slovenia, are trying to “significantly” reduce a planned limit by the European Union on the price of gas, at a time when the bloc struggles to reach an agreement on the measure.
EU countries are holding emergency talks on Saturday to try to line up a deal to cap gas prices at a December 13 meeting between their energy ministers – but states remain divided over the plan.
Twelve of the 27 EU member states circulated a document demanding that the price cap be “significantly” lower than the last compromise negotiated by the countries.
“The text did not go far enough in the direction of what we would consider a satisfactory agreement,” they said.
The document, seen by Reuters, was submitted by Belgium, Bulgaria, Croatia, Greece, Italy, Latvia, Lithuania, Malta, Poland, Romania, Slovenia and Slovakia.
EU countries have been debating for months whether to cap gas prices, but have so far failed to bridge the gap between their differing views.
Gas prices in Europe have been rising this year after Russia cut gas deliveries following its invasion of Ukraine, raising fuel costs and fueling inflation.
But while countries in favor of the cap say the measure would protect their economies from high energy costs, Germany – Europe’s biggest economy and gas market – and the Netherlands have opposed a price cap on gas, warning it could disrupt normal functioning of energy markets and dissuade gas producers from sending much needed fuel to Europe.
The latest draft proposal being considered by countries, seen by Reuters, would activate the cap if prices rise above 220 euros per megawatt-hour for five days, in the first month contract of the Dutch Title Transfer Facility (TTF) gas hub, and was also €35 higher than a benchmark price for liquefied natural gas (LNG) based on current LNG price assessment.
This is below the €275 per megawatt-hour proposed by the European Commission, but the 12 countries said it was still not low enough.
Source: CNN Brasil
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