Europe in the energy crisis: EU Commission is considering capping electricity prices

Brussels, Versailles The EU Commission is considering capping electricity prices in Europe. This emerges from a presentation that Commission chief Ursula von der Leyen showed to the European government leaders on Thursday evening at the summit in Versailles. According to this, the EU authority is examining “options for immediate measures to limit the contagion effect of gas prices on electricity prices”, such as “temporary price caps”.

The considerations are part of a package of measures with which the Commission intends to cushion the effects of the energy crisis triggered by the Russian war of aggression against Ukraine and to lead Europe out of its dependence on Russian raw material imports in the medium term.

The EU has long permitted national price controls in favor of households and small businesses. Should the crisis worsen further, a Europe-wide regulation would be possible as a next step.

Von der Leyen announced that the Commission could present a corresponding proposal as early as the end of March. At the same time, the authority wants to set up a task force to plan and coordinate the filling of the gas storage facilities for the coming winter.