Saudi Press

Saudi Arabia and the world
Tuesday, Sep 30, 2025

EU energy ministers fail to reach gas price cap deal

EU energy ministers fail to reach gas price cap deal

A marathon meeting ends with countries starkly divided over the Commission’s plan.
Efforts by EU energy ministers to strike a deal on capping the price of natural gas flopped on Tuesday after more than six hours of talks failed to reach a final agreement.

The extraordinary Energy Council was meant to discuss proposals for a so-called "market correction mechanism" aimed at avoiding the kind of dramatic price spikes seen in the summer — a knock-on effect of the turmoil in energy markets caused by Russia's invasion of Ukraine.

But there are very deep divisions among EU countries over whether there should be a cap at all, and if it is to happen, at what price it would be triggered.

"Last time I was hoping to open champagne to celebrate the agreement, but apparently, we still need to keep the bottles in the fridge for a while," said Czech Industry Minister Jozef Síkela, whose country holds the rotating presidency of the EU Council.

Under the European Commission’s original plan, the cap would go into effect when prices on the Dutch TTF hub hit €275 per megawatt-hour for two weeks, and if those prices are more than €58 per MWh higher than liquefied natural gas prices on the global market.

That proposed cap was set so high that it would not have been triggered even during August's price spike, when prices briefly reached €350 per MWh — prompting outrage from cap-backing countries.

The Czech Council presidency has since suggested several amendments to the Commission proposal, but hours of talks failed to make a final breakthrough.

“We knew that reaching an agreement on this topic was never going to be easy. For the past weeks of intense negotiations, we have made progress on technical aspects” said Energy Commissioner Kadri Simson, adding that despite the "skill" of the presidency, "there are still different views on this aspect of the proposal."

The talks now shift to another Energy Council set for Monday.

"The truth is we will have a long discussion on Monday," an EU diplomat said, adding that the precise trigger price remains an open debate, with options still on the table ranging from €160 to €220 per MWh.

Riina Sikkut, Estonia’s minister of economic affairs and infrastructure, told POLITICO that there was an agreement that the cap should be triggered when gas prices are €35 per MWh higher than global LNG prices for three days, but that disputes remained over whether all European gas hubs should be included when calculating the cap strike price.

The delay affects other files aimed at helping the bloc wean itself off Russian gas imports, including measures to speed up approvals of renewable energy projects and jointly purchase gas. Síkela said those files would be approved next week.

"It could go either way," another EU diplomat said of the renewed effort to agree on a price cap. "The process could implode or we could reach a deal. It depends strongly on [member states'] willingnesses to broker a deal."

“Let’s hope — in the spirit of Christmas,” Sikkut said.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
Nvidia and Abu Dhabi’s TII Launch First AI-&-Robotics Lab in the Middle East
UK, Canada, and Australia Officially Recognise Palestine in Historic Shift
New Eye Drops Show Promise in Replacing Reading Glasses for Presbyopia
Dubai Property Boom Shows Strain as Flippers Get Buyer’s Remorse
Top AI Researchers Are Heading Back to China as U.S. Struggles to Keep Pace
JWST Data Brings TRAPPIST-1e Closer to Earth-Like Habitability
UAE-US Stargate Project Poised to Make Abu Dhabi a Global AI Powerhouse
Trump and Starmer Clash Over UK Recognition of Palestinian State Amid State Visit
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Sam Altman sells the 'Wedding Estate' in Hawaii for 49 million dollars
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
This Week in AI: Meta’s Superintelligence Push, xAI’s Ten Billion-Dollar Raise, Genesis AI’s Robotics Ambitions, Microsoft Restructuring, Amazon’s Million-Robot Milestone, and Google’s AlphaGenome Update
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Qatari prime minister says Netanyahu ‘killed any hope’ for Israeli hostages
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Did the Houthis disrupt the internet in the Middle East? Submarine cables cut in the Red Sea
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
×