Von der Leyen: Confident EU will agree on gas price cap - Breaking The News

Von der Leyen: Confident EU will agree on gas price cap

7 December

1 min read

EPA-EFE/MATTEO BAZZI

European Commission President Ursula von der Leyen expressed on Wednesday her confidence the European Union will agree on a price cap for gas by the end of the year.

In a speech that she gave at Bocconi University in Milan, von der Leyen stressed that the EU is in discussions with United States President Joe Biden and his administration about the effects of the Inflation Reduction Act (IRA) on Europe's economy. She also said the EU and the US should work together to avoid being dependent on commodities from China.

The European Commission previously proposed limiting the price of gas to €275 per megawatt-hour (MWh) for the Dutch TTF natural gas futures. The bloc failed to agree on that in November and decided to continue talks in December.

gas ukraine crisis us-eu relations von der leyen energy crisis

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