The gas price cap is intended to limit the financial burden of high energy prices for EU citizens.
(Photo: dpa)
Brussels The European energy ministers have again failed to agree on a gas price cap. According to Federal Minister of Economics Robert Habeck, an agreement is possible next Monday.
There has been a lot of progress on technical issues, Habeck said on Tuesday in Brussels. “But we’re not completely done yet.” Some important points are still open, including the amount of the gas price cap.
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The EU energy ministers are to meet again next Monday and, if possible, make a decision. Until then, other experts would have to be consulted. There is still no final breakthrough. A majority decision is possible on Monday. Habeck said he prefers a consensus – a compromise that all 27 EU countries stand behind, although they are still a little dissatisfied.
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After around nine hours of negotiations in Brussels, the Green politician spoke of a strenuous day that lasted longer than expected. The task was to ensure security of supply with gas and at the same time to keep the EU together. “That has been largely successful.”
Greece, Belgium, Poland and Italy are among those in favor of the Europe-wide gas price cap. This is intended to protect the economy against high energy prices. Germany and the Netherlands, among others, are skeptical. They fear that with a strict price cap, gas suppliers could deliver preferentially to other regions of the world.
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“Some questions could not be clarified today and must remain open,” said Habeck after hours of negotiations with his colleagues in Brussels. He named security of supply and financial market stability as German concerns. The planned gas price cap is “extremely delicate”: “We are intervening in a market that is supposed to guarantee the supply.”
Habeck said progress was also made on technical issues and the structure of the mechanism at the special meeting of energy ministers. It is still unclear how high the price should be. This question should be clarified at the next meeting of energy ministers on Monday, said Habeck.
According to Habeck, it was still unclear whether the states would then be able to find a consensus. “An agreement that everyone is happy with is high diplomatic art,” he said. According to him, it could also be that a decision is made by qualified majority – if necessary over Germany’s vote. “It can happen that you find a solution, if necessary via majority decisions,” he said. In this specific case, at least 15 of the 27 EU countries, which together make up at least 65 percent of the total population of the EU, would have to agree.
For months, the EU countries have been arguing about measures to control gas prices, which have fluctuated sharply in the wake of the Ukraine war. Under pressure from a large number of countries, the EU Commission proposed capping the price for gas sold at the TTF wholesale site at EUR 275 per megawatt hour under certain circumstances. Such a price cap would affect large customers who trade there – not end consumers, as is the case with the federal government’s gas price brake.
More: How Europe redirects its gas flows – and becomes independent of Russia