EU warned over gas price cap ...News

The European Commission fears a demand surge that would trigger outflows of subsidized power, according to Reuters The European Commission has cautioned that an EU price cap on natural gas could result in increased outflows of cheaper energy to countries not part of the scheme, a document obtained by Reuters states. The measure could reportedly cause an increase in gas demand by up to 9 billion cubic meters. This would result in cheaper EU-produced electricity flowing to non-EU countries that import EU power but do not have the price cap, such as the UK and Switzerland. In the document, bloc members are urged to c

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