On winter’s doorstep, European Union nations again failed to bridge bitter disagreements over a natural gas price cap Thursday as they struggle to effectively shield 450 million citizens from massive increases in their utility bills. Know more:
BRUSSELS—On winter’s doorstep, European Union nations again failed to bridge bitter disagreements over a natural gas price cap Thursday as they struggle to effectively shield 450 million citizens from massive increases in their utility bills.
A massive August spike in natural gas prices stunned all but the wealthiest in Europe, forcing the bloc to look for a cap to contain volatile prices that are fueling inflation. “The differences are really still major,” said Dutch Energy Minister Rob Jetten. “It means there is an awful amount of work ahead over the next two weeks.”
Talks have dragged on for months, and even if a summit of EU leaders proclaimed some sort of breakthrough last month, nothing has been visible on the ground. Nations had been waiting for a proposal from the European Commission, the EU’s executive arm, to set a threshold for a price cap, and when it came Tuesday, there was dismay and accusations it could never work.
“Setting a ceiling at 275 euros is not actually a ceiling,” said Greek Energy Minister Konstantinos Skrekas, who called for a cap that could go as low as 150 euros. “We are losing valuable time without results,” he added. Some 15 nations are united around the view a lower cap should be set, but Germany and the Netherlands lead another group wanting to ensure that gas supply ships would not bypass Europe because they could get better prices elsewhere.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Air pollution killed 238,000 Europeans prematurely in 2020 — EEAFine particle air pollution led to 238,000 premature deaths in the European Union in 2020, the bloc&39;s environmental watchdog said Thursday, a slight rise from the previous year.
Read more »
Denmark reignites European dispute with FIFA at World Cup - BusinessMirrorDOHA, Qatar—European soccer showed its public frustration with FIFA president Gianni Infantino again Wednesday at the World Cup — this time in the Denmark camp. Denmark pledged it wouldn't vote for Infantino, who is running unopposed for re-election in March. Danish soccer federation president Jesper Møller also hinted at wishing to walk away from FIFA membership. “I’ve
Read more »
European shares subdued, retailers in focus as holiday shopping kicks offEuropean stocks were subdued on Friday, with retail companies under pressure as the holiday shopping season kicked off amid worries of a sharply slowing global economy and sky-high inflation. The
Read more »
European embassies, NGOs cycle towards VAWFreePHGroups of men and women including ambassadors of some EU embassies to the Philipines, NGOs and advocacy group members, all donning orange shirts, cycled around Intramuros, Manila, to kickoff the 18-day violence against women campaign.
Read more »
Philippine Skating Union to hold musical Christmas ice show 'Carols on Ice'The Philippine Skating Union is holding the first ever musical Christmas ice show in the country!
Read more »
Polish climate minister says EU gas cap proposal is a ‘joke’WARSAW - The European Union&039;s gas price cap proposal is a &039;joke&039;, Polish climate minister Anna Moskwa said on Thursday. Moskwa&039;s criticism followed disagreement among the 27
Read more »