The European Union has unveiled a long-awaited natural gas price cap plan to protect consumers from soaring energy prices in the wake of Russia’s invasion of Ukraine, capping prices for the entire bloc at 275 euros (~$272) per megawatt hour, Reuters reports. The price cap proposal is for month-ahead derivatives on the Dutch natural gas benchmark TTF and would be in place for two weeks. The plan is being presented as a failsafe that would not be set in motion unless natural gas prices reached above specific levels for 10 straight…
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