The European Union will unveil proposals next week to launch joint gas buying within months and develop an alternative gas price benchmark, but a meeting of EU countries on Wednesday left it unresolved whether the package would include a gas price cap.
The 27-country EU is plotting its next move to tame soaring energy prices and shield consumers from surging bills, as Europe heads into a winter of scarce Russian gas, a cost of living crisis and the looming threat of recession.
After a meeting of EU energy ministers in Prague, EU energy commissioner Kadri Simson said the European Commission would lay out plans to develop an alternative EU gas price benchmark, and quickly launch joint gas buying among EU countries.
Simson said, however, it was still unclear if there was enough support among countries for a price cap on gas used for power generation to be added to the Oct. 18 package - a move many countries have sought.
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