EU President: We will step up to tackle rising energy costs
Brussels, The Gulf Observer: EU President Ursula von der Leyen will suggest to EU leaders meeting this week how the EU could cap gas prices in a bid to contain soaring energy costs.
EU President said that, Putin has been using energy as a weapon, causing economic and social hardship.The measures we have put in place provide us with a first buffer of protection.
EU governments have debated a gas price cap for weeks, without reaching agreement. While a majority of EU members support some form of cap to tackle soaring inflation, Germany, Denmark and the Netherlands are opposed, citing concerns over security of supply.
The EU executive’s chief laid out her proposals in a letter on Wednesday to EU country leaders, who will discuss whether or how to cap gas prices at a meeting in Prague on Friday.
“We should consider a price limitation in relation to the TTF in a way that continues to secure the supply of gas to Europe and to all Member States,” her letter said, referring to the Dutch Title Transfer Facility (TTF) gas price.
