EU readies energy package, countries split over gas price cap

The European Union is set to unveil a package of proposed emergency measures this week including a windfall profit levy on energy firms, but countries are split over the details and whether to impose a cap on gas prices.
At a meeting on Friday, EU countries’ energy ministers asked the European Commission to draft measures to skim off excess revenues from non-gas power generators, cut EU-wide electricity use, and help power firms in need of emergency liquidity.
In a bid to pull down soaring energy bills for citizens and businesses ahead of winter, the ministers also asked Brussels to also propose a gas price cap, according to a meeting summary by the Czech Republic which holds the EU’s rotating presidency.