EU energy ministers to discuss gas price cap and emergency aid By Reuters

EU energy ministers to discuss gas price cap and emergency aid By Reuters
EU energy ministers to discuss gas price cap and emergency aid By Reuters

© Reuters.

By Kate Abnett

BRUSSELS (Reuters) – Energy ministers of European Union countries will discuss options to contain rising energy prices, including gas price caps and emergency credit lines for energy market participants, a document seen by Reuters showed. .

EU ministers will meet on September 9 to discuss urgent measures across the bloc to respond to a rise in gas and energy prices that is hurting European industry and pushing up household bills after Russia slashed deliveries. of gas to the block.

The document, seen by Reuters, said ministers would consider options such as a price cap on imported gas, a price cap on gas used to produce electricity, or the temporary removal of gas-fired power plants from the current EU system of fixing prices. electricity prices.

Ministers will also consider offering urgent “pan-European credit line support” to energy market participants facing very high-margin calls, said the document prepared by the Czech Republic, which holds the EU’s rotating presidency.

Finland and Sweden on Sunday announced plans to offer billions of dollars in liquidity guarantees to energy companies in a bid to prevent increased collateral requirements from bringing companies down.

“Margin requirements for futures contracts have increased proportionately with increasing daily price fluctuations. This makes it almost impossible for an increasing number of companies to keep their hedging positions open, triggering their withdrawal from futures markets,” the EU document said.

The article is in Portuguese

Tags: energy ministers discuss gas price cap emergency aid Reuters

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