London Daily

Focus on the big picture.
Wednesday, Sep 17, 2025

EU energy ministers fail to reach gas price cap deal

EU energy ministers fail to reach gas price cap deal

A marathon meeting ends with countries starkly divided over the Commission’s plan.
Efforts by EU energy ministers to strike a deal on capping the price of natural gas flopped on Tuesday after more than six hours of talks failed to reach a final agreement.

The extraordinary Energy Council was meant to discuss proposals for a so-called "market correction mechanism" aimed at avoiding the kind of dramatic price spikes seen in the summer — a knock-on effect of the turmoil in energy markets caused by Russia's invasion of Ukraine.

But there are very deep divisions among EU countries over whether there should be a cap at all, and if it is to happen, at what price it would be triggered.

"Last time I was hoping to open champagne to celebrate the agreement, but apparently, we still need to keep the bottles in the fridge for a while," said Czech Industry Minister Jozef Síkela, whose country holds the rotating presidency of the EU Council.

Under the European Commission’s original plan, the cap would go into effect when prices on the Dutch TTF hub hit €275 per megawatt-hour for two weeks, and if those prices are more than €58 per MWh higher than liquefied natural gas prices on the global market.

That proposed cap was set so high that it would not have been triggered even during August's price spike, when prices briefly reached €350 per MWh — prompting outrage from cap-backing countries.

The Czech Council presidency has since suggested several amendments to the Commission proposal, but hours of talks failed to make a final breakthrough.

“We knew that reaching an agreement on this topic was never going to be easy. For the past weeks of intense negotiations, we have made progress on technical aspects” said Energy Commissioner Kadri Simson, adding that despite the "skill" of the presidency, "there are still different views on this aspect of the proposal."

The talks now shift to another Energy Council set for Monday.

"The truth is we will have a long discussion on Monday," an EU diplomat said, adding that the precise trigger price remains an open debate, with options still on the table ranging from €160 to €220 per MWh.

Riina Sikkut, Estonia’s minister of economic affairs and infrastructure, told POLITICO that there was an agreement that the cap should be triggered when gas prices are €35 per MWh higher than global LNG prices for three days, but that disputes remained over whether all European gas hubs should be included when calculating the cap strike price.

The delay affects other files aimed at helping the bloc wean itself off Russian gas imports, including measures to speed up approvals of renewable energy projects and jointly purchase gas. Síkela said those files would be approved next week.

"It could go either way," another EU diplomat said of the renewed effort to agree on a price cap. "The process could implode or we could reach a deal. It depends strongly on [member states'] willingnesses to broker a deal."

“Let’s hope — in the spirit of Christmas,” Sikkut said.
Newsletter

Related Articles

0:00
0:00
Close
Hong Kong Industry Group Calls for HK$20 Billion Support Fund to Ease Property Market Stress
Joe Biden’s Post-Presidency Speaking Fees Face Weak Demand amid Corporate Reluctance
Charlie Kirk's murder will break the left's hateful cancel tactics
Kash Patel erupts at ‘buffoon’ Sen. Adam Schiff over Russiagate: ‘You are the biggest fraud’
Homeland Security says Emmy speech ‘fanning the flames of hatred’ after Einbinder’s ‘F— ICE’ remark
Charlie Kirk’s Alleged Assassin Tyler Robinson Faces Death Penalty as Charges Formally Announced
Actor, director, environmentalist Robert Redford dies at 89
The conservative right spreads westward: a huge achievement for 'Alternative for Germany' in local elections
JD Vance Says There Is “No Unity” with Those Who Celebrate Charlie Kirk’s Killing, and he is right!
Trump sues the 'New York Times' for an astronomical sum of 15 billion dollars
Florida Hospital Welcomes Its Largest-Ever Baby: Annan, Nearly Fourteen Pounds at Birth
U.S. and Britain Poised to Finalize Over $10 Billion in High-Tech, Nuclear and Defense Deals During Trump State Visit
China Finds Nvidia Violated Antitrust Laws in Mellanox Deal, Deepens Trade Tensions with US
US Air Force Begins Modifications on Qatar-Donated Jet Amid Plans to Use It as Air Force One
Pope Leo Warns of Societal Crisis Over Mega-CEO Pay, Citing Tesla’s Proposed Trillion-Dollar Package
Poland Green-Lights NATO Deployment in Response to Major Russian Drone Incursion
Elon Musk Retakes Lead as World’s Richest After Brief Ellison Surge
U.S. and China Agree on Framework to Shift TikTok to American Ownership
London Daily Podcast: London Massive Pro Democracy Rally, Musk Support, UK Economic Data and Premier League Results Mark Eventful Weekend
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Le Pen Tightens the Pressure on Macron as France Edges Toward Political Breakdown
Musk calls for new UK government at huge pro-democracy rally in London, but Britons have been brainwashed to obey instead of fighting for their human rights
Elon Musk responds to post calling for the murder of Erika Kirk, widow of Charlie Kirk: 'Either we fight back or they will kill us'
Czech Republic signs €1.34 billion contract for Leopard 2A8 main battle tanks with delivery from 2028
USA: Office Depot Employees Refused to Print Poster in Memory of Charlie Kirk – and Were Fired
Proposed U.S. Bill Would Allow Civil Suits Against Judges Who Release Repeat Violent Offenders
Penske Media Sues Google Over “AI Overviews,” Claiming It Uses Journalism Without Consent and Destroys Traffic
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
French Debt Downgrade Piles Pressure on Macron’s New Prime Minister
US and UK Near Tech, Nuclear and Whisky Deals Ahead of Trump Trip
One in Three Europeans Now Uses TikTok, According to the Chinese Tech Giant
Could AI Nursing Robots Help Healthcare Staffing Shortages?
NATO Deploys ‘Eastern Sentry’ After Russian Drones Violate Polish Airspace
Anesthesiologist Left Operation Mid-Surgery to Have Sex with Nurse
Tens of Thousands of Young Chinese Get Up Every Morning and Go to Work Where They Do Nothing
The New Life of Novak Djokovic
The German Owner of Politico Mathias Döpfner Eyes Further U.S. Media Expansion After Axel Springer Restructuring
Suspect Arrested: Utah Man in Custody for Charlie Kirk’s Fatal Shooting
In a politically motivated trial: Bolsonaro Sentenced to 27 Years for Plotting Coup After 2022 Defeat
German police raid AfD lawmaker’s offices in inquiry over Chinese payments
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Volkswagen launches aggressive strategy to fend off Chinese challenge in Europe’s EV market
ChatGPT CEO signals policy to alert authorities over suicidal youth after teen’s death
The British legal mafia hit back: Banksy mural of judge beating protester is scrubbed from London court
Surpassing Musk: Larry Ellison becomes the richest man in the world
Embarrassment for Starmer: He fired the ambassador photographed on Epstein’s 'pedophile island'
Manhunt after 'skilled sniper' shot Charlie Kirk. Footage: Suspect running on rooftop during panic
Effective Protest Results: Nepal’s Prime Minister Resigns as Youth-Led Unrest Shakes the Nation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
King Charles and Prince Harry Share First In-Person Moment in 19 Months
×