The EU Council rejected an Italian proposal, backed by France and other states, to hold an emergency summit on Energy in July, to discuss a price cap on natural gas. As Italian Prime Minister Mario Draghi reported in a press conference, the proposal was rejected with the argument that any decision should be based on the report a special experts panel is preparing for September. Thus, an Energy Summit will be held in October. In the meantime, producers and households can go f… themselves.
The Italian proposal is to introduce a price cap of €80-90 per MWh on the Dutch-based TTF gas future exchange. The Dutch government, and also Germany’s, are against it, with the argument that a price cap could push Russia to cut gas deliveries to the EU altogether.
