The European Commission is considering a temporary cap on EU gas prices, according to the Financial Times.
European natural gas prices have surged by 30% over the past month, driven by EU sanctions on affordable and dependable Russian imports. On Tuesday, natural gas futures on the Dutch Title Transfer Facility, the European benchmark, climbed to €59 per megawatt-hour.
To make matters worse, storage levels are rapidly depleting, raising concerns about energy security across the bloc. The Commission is now scrambling to prevent further economic strain, but experts warn that price caps could disrupt supply and lead to unintended consequences.
