The fifteen countries which had written to the Commission to demand a cap on gas prices – among which we find, in addition to Belgium, France and Italy, but not Germany or the Netherlands – referred to deliveries since abroad as well as wholesale market transactions within the EU. In its document, the EU executive warns once morest isolated measures on prices which might lead to an increase in demand, without offering a solution to the shortage of supply. The Commission also stresses that to impose a ceiling on wholesale prices on the European market, and not only on imports, it would be necessary to create a centralized system of substitution as well as to ration gas and redistribute it. This would be unprecedented and no European body is currently capable of handling this technically, she says.
A fortnight ago, the European executive had already put forward avenues for emergency intervention: a mandatory reduction in electricity demand, particularly at peak price times, the capture of surplus profits from companies that currently produce electricity at a lower cost and a solidarity contribution from the fossil fuel sector. These revenues would allow states to support households and businesses.