“Risks” of gas price cap proposals to be followed closely – EU

The risks of imposing gas price caps proposed by the European Commission yesterday, will be followed closely. That’s according to the European Energy Commissioner Kadri Simson who outlined details of the plans to MEPs in Strasbourg this morning.

The proposed “market correction mechanism” would enable the bloc to automatically intervene in gas markets in cases of severe price hikes.

However critics say it’s unlikely ever to be used because it can only be triggered under extreme circumstances.  Speaking today in the European Parliament, Commissioner Simson said the price cap plans were designed to protect EU markets against significant gas price spikes.

Out words: conclusions

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