EU energy ministers gathering in Brussels on Monday are likely to agree to a limit on gas prices below €200 a megawatt hour, according to the latest proposal for the bloc, in an effort to quell volatile energy prices that threaten to rise again as winter draws in.
The draft document put before ministers, and seen by the Financial Times, sets out a mechanism that would halt gas prices at €188/MWh hour once they had reached that level for three days.
At least 15 EU countries including Spain and Greece have been pushing for several months for Brussels to introduce a cap in the hope of keeping prices down for consumers over the winter and preventing social unrest.
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