• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing European Union Members Divided Over a Proposal to Cap Gas Prices
Investing

European Union Members Divided Over a Proposal to Cap Gas Prices

by November 23, 2022
by November 23, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

The energy crisis in Europe continues to draw division among EU member states regarding the best way to address it. Some members are now against plans to cap natural gas prices at €275 per megawatt hour.

One of the most contentious responses from the EU to the energy crisis brought on by Russia’s incursion of Ukraine has been the introduction of a ceiling on gas pricing.

Member states supported the proposal in October.

The proposal received political support from the 27 EU members in late October, following months of deliberation. However, a few countries request specific protections before approving the idea, while others claim the threshold is quite high.

After the EU set the cap, Greece’s minister for energy and environment, Kotas Skrekas said:

A price cap at the levels that the commission is proposing is not in fact a price cap. So [a] price cap at 275 euro is not a price cap, nobody can, can stand buying gas at this expensive price for a long time. We surely believe that the price cap below 200 euro, between 150 and 200 euro, would be more realistic.

On Tuesday, EU energy ministers met to discuss the price cap proposal, which received support from nations such as  Belgium, Greece, Poland, and Spain, among others. On the other hand, Germany and Netherlands have been sceptical regarding the benefits of the price cap.

EU’s proposal could be hard to implement

The European Commission has presented a price cap that might be hard to implement to bring all 27 member states together on the proposal. 

According to an EU official from one of the member nations who sought anonymity, the meeting will be for grumpy people. However, the official added that the commission should offer additional guarantees that the measures won’t distort markets.

European commissioner for energy Kadri Simson said that their proposal is balanced and is meant to curb excessive gas prices. Early in the week, a group of energy exchanges called Europe said they were concerned about market correction mechanisms that might impact financial stability. However, Simon said that the Market Correction Mechanism proposal has already factored this in, and risks for supply are minimal.

The post European Union Members Divided Over a Proposal to Cap Gas Prices appeared first on Invezz.

You Might Also Like
  • Elon Musk may soon step down as Twitter CEO: buy Tesla stock?
  • This ad-tech stock opened 70% up on Monday: this is why
  • Nike stock up 12% on Q2 earnings: should you buy?
  • Enovix shares crashed 45% on Wednesday: this is why
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Security IoT in Healthcare: Cybersecurity Best Practices
next post
Bob Chapek, Patient Zero in the Shareholder Backlash Against Wokentainment?

You may also like

Is January 2023 a good month for buying Ford shares?

December 31, 2022

Should I buy Verizon Communications shares in January 2023?

December 25, 2022

Crypto.com teams up with Coca-Cola to launch World Cup NFTs

December 6, 2022

Elon Musk: here’s why Tesla stock continues to sell-off

December 21, 2022

Centrica share price rally has more room to run –...

January 13, 2023

A homebuilder stock that could more than double from here

December 13, 2022

Out Of The Money (OTM) Options Explained

April 20, 2023

Options Theta Explained: Price Sensitivity To Time

April 22, 2023

Here’s how Adobe did in its fourth financial quarter

December 15, 2022

Why New Traders Struggle: 3 Key Concepts New Traders Never...

September 1, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Nike pushes back Skims launch with Kim Kardashian due to production delays

      June 19, 2025
    • The Fed Is Getting It Wrong AGAIN As They Hold Rates Steady

      June 19, 2025
    • DOJ seizes record $225 million in crypto tied to global ‘pig butchering’ scams

      June 19, 2025
    • Feeling Unsure About the Stock Market’s Next Move? These Charts Can Help

      June 18, 2025
    • Amazon expects to cut corporate jobs as it relies more on AI

      June 18, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,599 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,874 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,577 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,541 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,416 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,140)
    • Investing (538)
    • Stock (2,620)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Nike pushes back Skims launch with Kim Kardashian due to...

      June 19, 2025
    • The Fed Is Getting It Wrong AGAIN As They Hold...

      June 19, 2025
    • DOJ seizes record $225 million in crypto tied to global...

      June 19, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,140)
    • Investing (538)
    • Stock (2,620)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Argentina win World Cup but ARG...

    December 19, 2022

    GE Healthcare is ‘well-positioned for above...

    January 4, 2023

    Jim Cramer explains why he likes...

    November 28, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here