Tuesday, March 21

EU energy ministers to consider gas price cap, emergency liquidity help – document

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BRUSSELS — European Union countries’ energy ministers are set to consider 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.

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A draft document, seen by Reuters, said the ministers will discuss 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. (Reporting by Kate Abnett; Editing by Hugh Lawson)