The proposal will be considered at a meeting of the EU Energy Council on Friday.
The European Commission wants to limit the price of gas from Russia at a price of 50 euros per MWh (1 MWh equals approximately 95 cubic meters, – ed.). Such a proposal will be considered at a meeting of the EU Energy Council on Friday, Politico reports.
The proposed gas price ceiling of 50 euros per megawatt-hour is less than one-tenth of the current spot price.
Read also: G7 plans to halve the price of Russian oil
In metric indicators more common for Ukraine, 1 MW-hour is equal to approximately 95 cubic meters of gas. Accordingly, the maximum limit that the European Commission is ready to offer to Russia is slightly more than 600 dollars per thousand cubic meters.
It is also expected that any adopted measures will be “temporary”. . They can be entered “for half a year” and “maybe renewed for another half a year”.
“We Europeans have to stop Russia's manipulation of the market. It's the same when you see a share price collapse after bad news, you have to stop trading,” said the French foreign affairs secretary for Europe, Laurence Boon, to the publication.
Read also: the EU has set a deadline for abandoning Russian oil
Politico writes that for the establishment of a European-wide limit prices for the supply of gas from Russia and the tax on excess profits from energy resources was proposed by France.
The Minister of Environmental Transition of Spain, Teresa Ribera, stated that it will be difficult for EU ministers to decide how to formulate a common set of methods and determine the technical nuances of the approved measures.
And the representative of the German Ministry of Economy in turn stated that Germany wants to create a state expert commission to determine an approach to capping gas prices. and considers two options for this.
The first option involves limiting the amount that can be paid for gas imported from the Russian Federation or the creation of a single company that will deal with the purchase of gas in Russia.
The second option is the division of the countries the EU into “red” and “green” zones, according to the extent to which they are threatened by gas supply interruptions, that is, the introduction of a system of restrictions that will differ for different EU countries depending on their energy balance.
Such measures are part of a broader plan to soften the blow of the sharp rise in gas and electricity prices due to the Russian invasion of Ukraine. On Friday, September 9, EU energy ministers will discuss agreed steps to tackle the crisis.
The proposals came on a day when Russia warned that supplies gas through the key gas pipeline Nord Stream 1 to Europe will be stopped if the West does not lift economic sanctions.
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At the same time, the EU is also preparing for a complete stoppage of Russian gas supplies gas.
