The European Union Is Considering Measures To Control Rising Energy Prices
The European Commission has asked countries to consider five immediate moves, including a plan to redistribute some energy producers’ windfall to businesses and households, a price cap on Russian natural gas and mandatory targets to reduce peak-hour electricity use, among other possible steps. The potential plan underscores the widespread sense of alarm across Europe as the fallout from the war continues to weigh on European economies. It comes days after energy giant Gazprom suspended the flow of natural gas through a key pipeline – a move initially blamed on technical issues until the Kremlin stepped in saying it was actually Western sanctions....