Skrekas calls for EU gas price ceiling

A cap on wholesale gas prices is the best option for dealing with the huge price fluctuations in the natural gas market, Environment and Energy Minister Kostas Skrekas reiterated at a meeting of the informal Council of European Energy Ministers held on Wednesday in Prague, while stating that Europe must take immediate decisions to secure adequate supplies and reduce prices.

The agenda of the council concerned the next steps to be taken by the member-states to deal with high energy prices, as described in the letter of the president of the European Commission, Ursula von der Leyen, to the EU leaders and the proposed reforms in the electricity market.

Skrekas underlined that although increased quantities of natural gas are coming to the EU, prices are skyrocketing and “this means that the markets are not working properly and availability is not a matter of price but of infrastructure adequacy.”