An EU Price Cap On Natural Gas Looks Increasingly Unlikely

The executive arm of the European Union, the Commission, has indicated that a price cap on gas imports is not the best approach to containing energy costs amid a worsening cost-of-living crisis across the bloc. The idea of a price cap on all imports of gas was floated by a group of member states, including Italy, Greece, Poland, and Belgium. The Commission was against the idea from the very start but agreed to discuss it with member states’ leaders. The discussions have been dragging on for weeks and no decision has been reached. If one is…