Ministers are expected to pick up where leaders left off last week and pave the way for a deal, although that does not appear to be a certainty.
The battle for the ceiling on the price of natural gas continues, this time at the level of EU Energy Ministers meeting today in Prague, an informal meeting, preparatory to the regular Summit at the end of next week.
Ministers are expected to pick up where leaders left off last week and pave the way for a deal, although that does not appear to be a certainty.
There are two proposals on the table: the proposal mainly promoted by Greece, Italy, Poland and Belgium, i.e. countries that are particularly affected by price increases and do not have inexhaustible national resources.
The Greek proposal, which is co-signed by Italy, Belgium and Poland, has the advantage that it does not refer to a specific and strictly defined price, but to a price range, which will monitor the developments of the global market.
In other words, it will follow the ups and downs in the prices of the other energy exchanges in the USA, Asia and Australia, and from there an average will emerge.
The model proposed by Greece would result in a high enough price, according to the energy ministry, so as not to discourage suppliers by ensuring there would be no shortage in the market and could also be applied to long-term contracts.
In extreme situations – when e.g. sufficiency is threatened – purchases at a price higher than the ceiling will also be allowed. The proposal also foresees the intensification of efforts to save energy.
The other proposal is a model mainly promoted by France and the Iberian countries. The proposal in question concerns a cap on natural gas only for power generation, which, however, leaves out almost 2/3 of the market that goes to industry and household heating costs.
In other words, it will act as a half-measure, from the Greek point of view, as it will reduce the cost of electricity, but it will not address the problem faced by consumers in many countries both in terms of heating and the operation of critical operational infrastructures.
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