PRAGUE (Reuters) – The European Commission will present a proposal on a mechanism to cap gas prices on Tuesday, Industry and Trade Minister Jozef Sikela of the Czech Republic, which holds the EU’s rotating presidency, said on Monday.
According to a draft proposal, seen by Reuters, the Commission is set to propose a last-resort “dynamic” price cap for natural gas in the European Union and mandatory limits on the degree to which traded prices can fluctuate in a single day.
(Reporting by Robert Muller, writing by Jan Lopatka; Editing by Toby Chopra)