A group of countries, including Poland, Italy and Greece, have developed a proposal for the European Union to introduce a “dynamic price band” for gas in an attempt to reduce high energy prices and slow high inflation.
⠀
“The corridor will apply to all wholesale transactions, will not be limited to imports from specific jurisdictions and specific use of natural gas,” the countries’ draft proposal says.
⠀
The paper seen by the agency proposed setting a price band at a level that was high enough to keep the gas market functioning and flexible enough to allow European countries to continue to attract supplies from the price-competitive global gas market. If necessary, this may mean allowing gas deals at prices above the corridor.
⠀
The first meeting of the leaders of the European Political Community takes place on Thursday in Prague with the participation of the leaders of the EU and non-EU countries. The leaders of 27 EU member states, the countries of the Western Balkans, Norway, Switzerland, Iceland, Liechtenstein, Great Britain, Ukraine, Moldova, Georgia, Turkey, Armenia and Azerbaijan were invited to the summit. The main topics of the meeting will be the situation in Ukraine, the energy crisis and the economy.
⠀
According to French President Emmanuel Macron, EU leaders who arrived on Thursday for a summit in Prague will work on a strategy to reduce gas and electricity prices.
