[ad_1]
Malta’s Energy Minister Miriam Dalli, who arrived in Brussels on Thursday for an extraordinary meeting of EU energy ministers, slammed a proposed gas price cap as “nearly impossible”. Photo: Olivier Hoslet/EPA-EFE
November 24 (UPI) — EU energy ministers on Thursday lashed out at a proposal to cap gas prices amid the continent’s energy crisis, arguing it was largely unworkable.
energy minister met in brussels Develop a plan to protect natural gas during the winter and handle peak usage.war in russia Ukraine is one of the main culprits for growing concern in European energy markets.
A proposal from the European Commission, the EU’s executive branch, includes a price cap of $286 per megawatt-hour, well above the level at which gas prices hover. If the price remains at that level for two weeks and the difference to the world price of LNG is equal to or greater than $60, the cap will be triggered.
Energy ministers are divided on their ideas for an overall cap – about half of the 27-member EU wants a price cap.
But many believe the current proposal is too high and won’t even be passed by Russia in August. Beixi 1 pipe.
There is also a provision in the plan for the possibility of lowering the cap if there are adverse effects.
“It is absolutely unenforceable, inefficient and out of scope,” said Teresa Ribera, Spain’s minister for the ecological transition. tell a reporter. “It’s a bad joke.”
Malta’s Energy and Environment Minister Miriam Dalli said it would be “almost impossible” to activate the price cap under the proposed requirements.
Czech Energy Minister Jozef Sikela said EU officials would be tasked with revising the proposal ahead of a meeting expected on Dec. 13.
“We are ready to broker a deal and help solve problems,” said EU Energy Commissioner Kadri Simson. “It’s an extraordinary tool for extraordinary times.”
[ad_2]
Source link