BRUSSELS — The European Union is not planning to include a gas price cap in its upcoming strategy to slash energy prices, a European Commission official said, pushing back on chatter that the EU executive was eyeing the measure.
A proposal to limit the price of gas imports is “not on the cards” for the EU’s upcoming green industrial plans later this month, said the official, who like others in this story was granted anonymity to speak freely.
The denial came after Europe’s energy traders and fossil fuel firms sounded alarm bells over talk that Brussels might return to the emergency gas price measure. On Tuesday, 11 industry groups — including Energy Traders Europe, Eurogas and the International Association of Oil and Gas Producers — sent a letter to Commission chief Ursula von der Leyen expressing their “strong concerns” around the move.
Doing so would have “far-reaching negative consequences for the stability of European energy markets and the security of supply across the Continent,” they said, arguing it would undermine Europe’s credibility as a gas customer and shift trading outside the bloc.
