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Germany does not block EU energy solution, but is “sceptical” -minister

2022/11/23 at 11:34 pm

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Germany is not standing in the way of the European Union’s solution to the energy crisis, its Economy Minister Robert Habeck told the Handelsblatt newspaper on Thursday, in response to criticism of his country’s stance on plans to cap gas prices.

“We are not blocking anything,” he said in an interview with the daily and three European newspapers.

“But I’m skeptical when it comes to a fixed price cap on the market, because it would be too high or too low,” he said.

The bloc’s member states had already agreed in Prague on “a flexible, dynamic and intelligent cap in times of excessive profits,” Habeck added.

On Tuesday, the European Commission proposed a gas price cap in the bloc of 275 euros ($286.91) per megawatt hour for one-month-ahead derivatives in Europe’s benchmark Dutch index.

The idea of ​​such a cap has divided EU countries for months, with a small but powerful group of member countries, led by Germany, opposing intervention.

Diplomats have said the proposed level is unlikely to be popular when energy ministers from the 27-member bloc debate it on Thursday.

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