EU's von der Leyen to Press EU Leaders on Gas Price Cap

European Commission President Ursula von der Leyen will impress upon EU leaders meeting this week the need for a gas price cap and to ensure any financial support measures allow fair competition, Reuters reported. EU governments have debated a gas price cap for weeks, without reaching agreement. While a majority of EU members support some form of cap, Germany, Denmark and the Netherlands are opposed, citing concerns over security of supply. In a speech to the European Parliament in Strasbourg, the EU executive chief said she would lay out a roadmap in a letter to the leaders who will gather in Prague from Thursday. Von der Leyen said the European Union had to ensure individual members did not outbid each other for gas on world markets and drive prices up. She also said the EU needed to step up its negotiations with trusted partners and look into joint procurement, beginning with gas used to generate electricity. Read more.