EU to Discuss Urgent Measures in Response to Rising Energy Prices

EU energy ministers to consider gas price caps and loans for energy market players on Sept. 9 EU energy ministers will discuss options to curb skyrocketing energy prices, including limits on gas prices and emergency loans for energy market participants. It is said in a document, which is familiar to Reuters agency. EU ministers will meet Sept. 9 to discuss urgent measures across the bloc in response to a sharp rise in gas and electricity prices after Russia cut gas supplies. The document, seen by Reuters, says ministers will consider options such as limiting prices for imported gas, limiting prices for gas used for power generation or temporarily excluding gas-fired power plants from the EU’s current electricity price-setting system. A document prepared by the Czech Republic, which currently holds the EU presidency, says ministers will also consider providing urgent “pan-European credit support” for energy market participants. Finland and Sweden on Sunday announced plans to provide billions of dollars in liquidity guarantees to energy companies. The European Commission’s document echoes proposals voiced last week: reducing electricity consumption across the EU and limiting prices for electricity supplied by companies that do not use gas to generate it.