, and there are fears Moscow could cut flows further in retaliation for Western sanctions over its invasion of Ukraine.
Czech Industry Minister Jozef Sikela said another option was market intervention by states or even, theoretically the European Central Bank, and that other instruments could be discussed. Concrete proposals will be drafted this week and discussed with the European Commission and member states to reach some agreement by the Sept. 9 meeting.
Over the weekend, Austrian Chancellor Karl Nehammer, whose government had earlier been skeptical of price caps, backed the idea of an EU-wide measure amid “madness” in energy markets. Belgium has called for a review of pricing that currently translates higher gas prices into more expensive electricity, even if the latter is produced from nuclear or renewable sources.
Russian gas giant Gazprom says it is a reliable supplier and has blamed recent cuts in gas flows on technical issues with its Nord Stream 1 pipeline.
EU Kleptocrats? UK hit by record high energy prices! As early as October, UK energy bills will rise by 80%, putting heating out of reach for millions of Britons. Proposing to use libraries and museums as “heating places!” Boomerang Leadership?
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