The European Commission is working on more measures to tame skyrocketing gas prices and support energy companies facing a liquidity crisis, and could present its plans to EU countries next week.
Last week, the European Union’s executive body proposed emergency energy measures, including taxes on windfall profits from energy companies across the bloc.
EU countries are now negotiating the proposals and aim to approve them at a meeting of EU ministers on 30 September.
While these negotiations are taking place, the Commission intends to publish an update on Sept. 28 on other measures it is exploring, EU officials said.
This plan will not include legal proposals, officials said.
Instead, it will cover options that the EU could use to combat high gas prices — including the launch of an alternative at a Dutch Title Transfer Facility (TTF) gas benchmark, the Commission said.
The EU also plans to help companies facing growing collateral needs, officials said, as high energy prices have left energy companies struggling to find huge amounts of cash currently needed to insure their businesses.
Brussels said it is looking to amend collateral requirements in energy markets or limit intraday price volatility as ways to alleviate this liquidity crisis.
The EU has pulled back from a gas price ceiling in recent weeks, and the idea remains controversial among EU countries.
Some, like Italy, want a price cap on gas imports via pipeline, while Germany is among those warning that a price cap could make it harder for countries to attract needed fuel this winter.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
