December 8, 2022

Taylor Daily Press

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Belgium has moved heaven and earth to the ceiling of the European gas price, but there are three sleepers

Belgium has moved heaven and earth to the ceiling of the European gas price, but there are three sleepers

Twelve member states will send a letter to the European Commission on Wednesday to insist once again on a cap on the price of gas. The Commission presents a new paper to the Council of Energy Ministers in this regard. But since Germany, Denmark and the Netherlands don’t move, this sounds like a hoax. The European summit alone seems to provide a definitive answer.

Energy Minister Tinne Van der Straeten (Green) continues to move heaven and earth to get the European price ceiling out of the fire. However, when the energy ministers meet again on Friday, there will be no concrete proposal on the table again. On Wednesday or Thursday, Energy Commissioner Kadri Simpson will present a discussion paper on the pros and cons of the roof and the different options. But the detailed proposal requested by ministers two weeks ago is not.

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According to sources within the committee, “more consultations are needed.” In practice, Germany, the Netherlands and Denmark do not support a cap. Nor do they see any hope in alternatives, such as the gas hose with an upper and lower bound in which the price can fluctuate compared to Asian markets. In recent months, Berlin has deposited a lot of money for the supply of LNG. If the ceiling lowers prices, then Chancellor Olaf Schultz will have to explain to his people why they are paying a higher price. Opponents also insist the price cap could jeopardize supplies. So it increasingly appears that the issue will end in the Councils of Heads of Government, which will meet in Prague on October 7. (hca)

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