EU energy officials met on Sept. 30 to address skyrocketing energy prices in Europe and come up with a package of emergency measures. After the meeting, EU Energy Commissioner Kadri Simson (Estonia) told the press: “Ministers were concerned, as am I, that this will not be an easy winter for us, and the next winter will be even more difficult.”
They agreed to (try to) limit excessive profiteering by energy companies—which is meaningless under the current regimen of free market privatization—but they could not reach agreement on putting a price cap on wholesale natural gas. This self-defeating proposal was originally floated by U.S. Treasury Secretary Janet Yellen, and it became one of the key demands issued to the European Commission by a group of 15 EU member states ahead of the meeting. The European Commission, however, warned that such a move would weaken the bloc’s ability to secure gas supplies in the global market. The issue will reportedly be discussed at a later date, according to Lithuanian Energy Minister Dainius Kreivys.
A number of European countries have flat-out refused to go along with any such policy. For example, Austria’s Energy Minister Leonor Gewessler said that Austria cannot support any price ceilings on imported gas supplies which are necessary for energy security. “I am aware that the various EU members have differing views on the topic, but the others must be clear that Austria is dependent on natural gas imports and on Russian gas imports,” she told reporters before the meeting of EU energy ministers in Brussels. “In all these proposals, I have not seen any certainty that the partners supplying us would still deliver enough gas to Europe if we are not prepared to pay the price demanded.”
