EU again seeks elusive gas price cap to contain energy costs

EU again seeks elusive gas price cap to contain energy costs

SeattlePI.com

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BRUSSELS (AP) — With frost biting outside European Union headquarters, energy ministers again sought to overcome deep differences Tuesday on a natural gas price cap that many hope would make utility bills cheaper so people can stay a little warmer during harsh winter days — if not this year, then later.

EU energy ministers have been forced into five emergency meetings because they cannot come to agreement on a maximum ceiling to pay for gas because of fear that global suppliers will simply bypass Europe when others offer more money.

Despite the time pressure two days ahead of an EU leaders summit, Tuesday's meeting “will not be easy also because member states do have very different views and very different concerns,” EU Energy Commissioner Kadri Simson said. “Everybody has to show some flexibility, and everybody has to be able to propose some compromises.”

The 27 nations have stuck together through eight rounds of sanctions against Russia over the war in Ukraine and energy-saving measures to avoid shortages of the fuel used to generate electricity, heat homes and power factories. But they cannot come close to agreement on setting a complicated price cap that had been promised in October as a way to reduce energy bills that have soared because of Russia's invasion.

“So far, we were able to show the unity and the solidarity, and I believe we are strongly asked to continue with this approach,” said Jozef Sikela, the Czech industry minister chairing Tuesday's meeting. If not, he said, “there is a reputation risk, there is a lot of risk around.”

One side is demanding a cap to push down gas prices for households — including Greece, Spain, Belgium, France and Poland — while nations like Germany and the Netherlands are insisting supplies are at risk if a cap stops EU...

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