The EU agrees on a gas price cap: here is the cap adopted

The European Ministers of Energy, meeting in Brussels, “reached an important agreement that will protect citizens from soaring energy prices, with a realistic and effective mechanism, which includes the necessary guarantees for the security of supply and the stability of financial marketssaid Czech Minister Jozef Sikela, whose country holds the rotating EU presidency.

Of the 27 member states, only Hungary voted against. The Netherlands and Austria abstained. Germany, which has always been reluctant towards a cap, therefore finally voted in favor.

As of last spring, Belgium had profiled itself as one of the most ardent Member States in favor of a form of gas price cap, along with Italy, Greece, Spain and Poland.