Financial TimesFinancial Times

Germany challenges ‘political’ gas cap plan ahead of EU energy summit

By Sam Jones, Sam Fleming, Valentina Pop, Henry Foy

20 Oct 2022 · 3 min read

Olaf Scholz's opposition to a gas-price cap is going to make it harder for Europe to shore up supplies as Russia reduces exports.

Curated by informed

Germany’s chancellor has challenged EU proposals for a ceiling on gas prices before a summit in Brussels during which member states are expected to clash over how to curb punishing increases in energy costs.

Olaf Scholz told the Bundestag that a “politically set price cap” on gas would risk diverting gas to other countries that offer a higher price, undermining European efforts to shore up supplies as Russia cuts exports to the bloc following the invasion of Ukraine.

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