EU pushes for caps on natural gas wholesale prices

The European Commission’s energy agency recommends an “emergency wholesale price cap” on natural gas supplies.

The two options they cited are:

  1. A cap on prices for gas from Russia
  2. A system that would differ from country to country

The discussion document is partly irrelevant now with Russia closing Nord Stream 1 but gas still flows from Russia via other pipelines.

What all this highlights is that a market-economy for energy in Europe has failed. Now we’re into experimenting with different hybrid systems of managing supply.

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