Italy: European Union has almost reached an agreement on gas price cap
WORLD, Dec. 12 (YPA) – Italian Deputy Prime Minister and Foreign Minister Antonio Tajani announced that the European Union has almost reached an agreement on gas price cap.
Environment and Energy Security Minister, Gilberto Pichetto Fratin is working hard in Brussels to reach an agreement with other countries to impose a cap on the price of gas, and we are about to finish,” the Italian news agency ANSA reported, citing Tajani.
On November 22, the European Commission proposed a mechanism to correct the energy market, under which it is proposed to offer a gas price cap of 275 euros per 1 megawatt, about $3,000 per 1,000 cubic meters.
According to Kadri Simson, European Commissioner for energy, the proposed figure could be adjusted after consultation with members of the community.
She explained that the initiative provides the possibility of an emergency raise of gas price cap, if industry regulators consider that maintaining it could destabilize markets or lead to major supply problems.
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