Gas Price Cap Could Cause Irreversible Harm To Energy Markets ...Middle East

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Gas Price Cap Could Cause Irreversible Harm To Energy Markets
source : OILPRICE ( Middle East ) () 27
Earlier this week, the European Commission issued a statement declaring what it called a “safety price ceiling” for gas prices set at 275 euros, or $283 dollars, per megawatt-hour. Hailed as the long-awaited gas price cap that EU members have been discussing for weeks now, the ceiling’s aim, according to the Commission, will be used as a “temporary and well-targeted instrument to automatically intervene on the gas markets in case of extreme gas price hikes.” While national governments may be happy with this…

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