European Commission presents proposals to cap Russian gas price

Business & Economy September 07, 2022, 16:50

The EC also suggests reducing electricity consumption in peak hours for all EU member-states

MOSCOW, September 7. /TASS/. President of the European Commission (EC) Ursula von der Leyen presented proposals of the EC to overcome the energy crisis in the European Union on Wednesday.

EC suggests introducing a cap for Russian gas prices due to skyrocketed electricity prices. The possibility of setting the cap for non-Russian gas, including liquefied natural gas, is still under review. Brussels is afraid that sellers will redirect fuel to other countries.

The EC also suggests reducing electricity consumption in peak hours for all EU member-states. According to EC data, the EU reduced Russian gas import to 9% of total consumption from 40% in 2021.

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