Meeting of Energy Ministers: The European Union’s Effort to Solve the Energy Crisis
The energy ministers of the European Union are seeking an agreement on a mechanism to set a cap on wholesale gas prices on Tuesday, September 13, which still poses a risk to the EU by potentially crippling other emergency measures aimed at mitigating the effects of the energy crisis.
Energy ministers from the 27 member countries are gathering in Brussels to approve the price cap proposed by the European Commission, which is the latest EU response to the energy crisis caused by the reduction of Russian gas deliveries to Europe this year, leading to a sharp increase in prices.
Countries like Belgium, Poland, and Italy argue that a cap is necessary to protect their economies from high energy prices, while Germany, the Netherlands, and Austria fear that it could drive away the gas shipments needed by Europe.