No breakthrough on maximum price for gas after hours of talks at EU summit
At last night’s EU summit in Brussels, the European heads of state and government did not reach any firm agreement on a maximum European price for gas. They agreed to continue discussions on a compromise based on the European Commission’s proposals earlier this week.
Talks continued past midnight, but the 27 countries were unable to bridge their differences. A number of countries, including France and Belgium, are in favor of capping the price of gas, but another group of member states, including the Netherlands, Germany and Denmark, fear suppliers will then sell their gas elsewhere and that the shortages in Europe will only get worse gain weight.
According to Prime Minister Rutte, there was no breakthrough at the summit, but an important step was taken. For example, countries are agreeing on the terms on which a possible price cap for gas can be based, mainly to prevent price volatility due to speculation in the gas market, but these have yet to be worked out.
delivery risks
The group of countries around the Netherlands and Germany wants, among other things, certainty about the risks for the delivery. “If that means that the gas price suddenly goes up or the gas no longer comes to Europe, then you have a problem,” Rutte said after the consultation. Union energy ministers are meeting on Tuesday to discuss the issue.
In addition, the countries agreed on joint gas procurement by the EU countries. However, this is done on a voluntary basis, which the Netherlands and Germany would have liked to see as mandatory. “But I actually notice that all colleagues say that if we can implement this quickly, then everyone is interested in taking part,” said Rutte.
After the summit, EU Council President Charles Michel was optimistic about the agreement to “devise measures to contain energy prices for households and companies”. EU Commission President Ursula von der Leyen tweeted that she welcomed the support of the heads of government. “They have provided strategic guidance for the energy package, from joint procurement to investment.”
Source: NOS
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