The European Commission said yesterday it was ready to “consider” a ceiling on gas prices
THE Emmanuel Macron pledged today to “convince” Europeans – and thus overcome some of the German objections – on a mechanism to set a ceiling on the prices of gas used to produce electricity.
“We are very supportive of this,” the French president said during a business meeting organized in Paris by the Public Investment Bank.
“We will convince the other Europeans at the latest until the European Council that will take place on October 20 and 21 in Brussels”, he assured.
“We’re going to create a system where we put a cap on the gas we use to generate electricity,” which “will allow the price of electricity to go down,” he said.
Macron referred to the “Iberian mechanism”, i.e. the model implemented by Spain and Portugal which, he claimed, “works quite well”.
According to the French president, this will contribute to having by “the end of October, beginning of November” prices “which will fluctuate in a zone that is much more acceptable”, as well as “more reasonable” gas and electricity supply contracts.
The European Commission said yesterday, Wednesday, that it was ready to “consider” one upper limit on gas prices on the European market to counter rising energy bills caused by the war in Ukraine, under pressure from a majority of European states – including Greece, France, Italy or Poland – who support a such mechanism.
The EU is to discuss the issue during an informal summit in Prague.
Germany, as well as other European states most dependent on Russian gas, have so far rejected a more general wholesale gas price cap.
“Next to this, we will set up European financing solidarity mechanisms as we did during the Covid crisis to avoid having a European market that explodes in this crisis,” the French head of state also assured.
He also stated that the Europeans must be “all together” to negotiate prices in the gas market to “carry more weight”.
“We will very friendly say to our American friends, our Norwegian friends, ‘you are amazing, you provide us energy from gas, but it is something that cannot go on for a long time, that is we cannot pay for gas four times more expensive than you sell it to your industrialists”, he emphasized.
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