Fifteen EU member states rejected the fake natural gas “Price Cap” plan drafted by the European Commission. The plan’s proposed mechanism was so fake that the price cap would not have been activated even during the phase of highest gas price last summer. The plan was met with scorn. Spanish Minister for Ecological Transition Teresa Ribera said “it is a joke.” Italian Minister for Ecological Transition Gilberto Pichetto Fratin said that without an agreement on price cap, other measures will also be rejected, such as the “solidarity” supply among member states.
Germany and the Netherlands were in favor of the fake price cap. Italian observers say the two countries do not want to interfere with “the market"; the Netherlands as a gas producer and owner of the TTF exchange; Germany because they believe they can survive the crisis through the strength of their government budget alone.
