EU energy ministers to discuss gas price cap, emergency liquidity help

European Union countries’ energy ministers will discuss options to rein in soaring energy prices including gas price caps and emergency credit lines for
energy market participants, a document seen by Reuters showed.
EU ministers will meet on Sept. 9 to discuss urgent bloc-wide measures to respond to a surge in gas and power prices that is hammering Europe’s industry and hiking household bills, after Russia curbed gas deliveries to the bloc.
A draft document, seen by Reuters, said the ministers will consider options including a price cap on imported gas, a price cap on gas used to produce electricity, or temporarily removing gas power plants from the current EU system of setting electricity prices.
Ministers will also consider offering urgent “pan-European credit line support” for energy market participants facing very high margin calls, said the document drafted by the Czech Republic, which holds the EU’s rotating presidency.