Grapples over the ineffectiveness of a proposed gas price cap, incentives to consumption cuts and impact on supplies leave EU energy ministers in a standoff.
The 27 countries are split by “different views” around the unprecedented proposal, which aims to set a maximum price on the daily transactions taking place in the gas market.
The EU will recover part of the “superprofits” of energy producers to redistribute them to consumers and impose a reduction in electricity demand at peak times
EU ministers on Friday agreed cuts to peak-hour power consumption and windfall levies on energy companies in an urgent effort to bring down sky-high energy prices.