Persistent EU rifts slow approval of gas price cap

[Olivier Matthys/AP Photo]

Belgium, Greece, Italy and Poland on Friday vexed that gas price caps were not included in detailed proposals, prompting a new set of European Union measures to ease the deep energy crisis. threatened to block it, the diplomat said.

Continuing disagreements between the EU 27 countries make it more likely that the EU energy ministers will not be able to give final approval to the cap, as expected at the November 24 meeting. increase.

Four diplomatic sources said the four countries were seeking a comprehensive proposal on the cap from the EU executive committee by Nov. 24 at meetings with European Union envoys.

Otherwise, they would not agree to a series of measures awaiting approval, including the commencement of joint gas purchases by the bloc and expediting the licensing process for renewable energy sources.

The European Commission, which drafts EU legislation for approval by member states, has responded by promising to outline a gas cap in time for debate on 24 November.

But sources who attended or were briefed on closed-door talks on Friday said the deal is unlikely to be ready for approval at that point.

The four countries cannot single-handedly block the deal. But they could, if they build a broader coalition among most of the EU member states, which have been calling for a cap on gasoline for months to bring down high market prices.

Opponents, a small but powerful faction led by Germany, the bloc’s largest economy, say the cap risks delaying suppliers and reducing incentives to cut gas consumption.

The disagreement has undermined the EU’s response to a severe energy crisis linked to Russia’s war with Ukraine and causing record-high inflation in the bloc. [Reuters] Persistent EU rifts slow approval of gas price cap

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