EU energy ministers to discuss 'gas price cap'

EU countries are set to discuss on Wednesday ways to tackle the energy crisis, imposing a price cap on natural gas, and preparations for winter.

EU leaders held a summit last week where high energy prices were the main agenda, and this issue will be discussed at Wednesday's ministerial level meeting in Prague, Czechia, said EU commissioner for Energy Kadri Simson.

Simson said he will make a presentation to the ministers about the ongoing work of the commission in the field of energy, and they will first aim to reduce the gas demand and encourage cooperation among the members.

"We will intervene in gas prices," Simson said, adding that EU countries will also facilitate joint gas purchases.

He also said that all of these regulations should be applied altogether to help limit prices and ensure supply security.

Expressing the urgency of the situation, Simson said they need to reach a consensus and act together.

Simson added that the ministers will present their views on the introduction of a gas price cap. "The commission will present the package containing new proposals on energy next week."

Simson further said preparations for the winter period and the situation in nearby countries will also be discussed at the meeting.

Meanwhile, Czech Industry and Trade Minister Jozef Sikela said discussions will take place on how to limit the impact of gas prices on electricity prices, in particular.

Special focus will also be given to how to provide sufficient energy at affordable prices for EU countries and the functioning of the electricity market and possible changes in this area, according to Sikela.