EU Delivers Nat Gas Price Cap Without “Silver Bullet”

The European Union has unveiled a long-awaited natural gas price cap plan to protect consumers from soaring energy prices in the wake of Russia’s invasion of Ukraine, capping prices for the entire bloc at 275 euros (~$272) per megawatt hour, Reuters reports.  The price cap proposal is for month-ahead derivatives on the Dutch natural gas benchmark TTF and would be in place for two weeks.  The plan is being presented as a failsafe that would not be set in motion unless natural gas prices reached above specific levels for 10 straight…