EU energy ministers are set to hold an emergency meeting this week to discuss options to ease Europe’s deepening energy crisis.
EU ministers, who will meet in Brussels on September 9, are set to discuss a range of significant energy market interventions in response to soaring gas and electricity prices across the bloc.
Among the measures understood to be under consideration are a price cap on imported gas, a price cap on gas used to produce electricity, or temporarily removing gas power plants from the current EU system of setting electricity prices.
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Last Friday, Russian gas giant Gazprom said that it had detected a leak of engine oil in the only turbine that was still operational at its Portovaya station and would shut off natural gas supply in the Nord Stream One gas pipeline until it was repaired.As a result, European gas prices jumped by 30%, stoking renewed fears of gas shortages in the EU this winter.
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EU energy ministers are set to hold an emergency meeting this week to discuss options to ease Europe’s deepening energy crisis.
EU ministers, who will meet in Brussels on September 9, are set to discuss a range of significant energy market interventions in response to soaring gas and electricity prices across the bloc.
Among the measures understood to be under consideration are a price cap on imported gas, a price cap on gas used to produce electricity, or temporarily removing gas power plants from the current EU system of setting electricity prices.
Last Friday, Russian gas giant Gazprom said that it had detected a leak of engine oil in the only turbine that was still operational at its Portovaya station and would shut off natural gas supply in the Nord Stream One gas pipeline until it was repaired.As a result, European gas prices jumped by 30%, stoking renewed fears of gas shortages in the EU this winter.
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