December 4, 2022

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What do the energy ministers decide?  European emergency meeting soon on excess profits on electricity and gas price ceiling

What do the energy ministers decide? European emergency meeting soon on excess profits on electricity and gas price ceiling

The 15 countries will try to refute the Commission’s arguments at today’s meeting. With 15 countries representing 64 percent of Europe’s population, it’s almost enough to pass the price cap bill. But first, there has to be a bill, and the only one that can, and is allowed, is … the European Commission. He doesn’t seem to be satisfied with the price cap yet. Nor Germany, the Netherlands, Denmark and Hungary.

A European source said yesterday: “The setting of a ceiling for the price of gas is just an incentive to consume more gas.” And: “We will not tell reliable and civilized partner countries, such as Norway, that we will pay less for gas.”

According to proponents, the price cap is realistic, and much cheaper than the many billions that EU countries are now spending to help citizens and businesses. And Germany announced yesterday that it will allocate 200 billion euros for this purpose. “All the money goes to Qatar, Norway and Russia,” a European source said. Another says: “Germany has made expensive deals to buy LNG in recent months. If there is a price cap, they will have this expensive gas, while companies in other countries have cheaper gas.” And so the price ceiling debate continues. This will also be a topic at the informal meeting of European Heads of State and Government next week on October 7 in Prague.

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