European Union energy ministers have agreed on a natural gas price cap after weeks of talks on the emergency measure as the EU seeks to tame an energy crisis. The cap is the EU's latest attempt to lower gas prices that have pushed citizens' energy bills higher and driven record-high inflation this year after Russia cut off most of its gas deliveries to Europe. Ministers agreed to trigger a cap if prices exceed 180 euros per megawatt hour for three days on the Dutch Title Transfer Facility (TTF) gas hub's front-month contract, which serves as the European benchmark. To read the original story from Reuters, click here.
EU Countries Agree Gas Price Cap To Contain Energy Crisis
The cap is the EU's latest attempt to lower gas prices that have pushed citizens' energy bills higher and driven record-high inflation. (file photo)