In absence of EU gas price cap, some countries plan to propose their own

BRUSSELS, Sept 30 (Reuters) – A bunch of European Union nations will take the weird step of drafting their very own legislative proposal for an EU gasoline worth cap, Poland’s local weather minister mentioned on Friday, amid scepticism from Brussels over the concept.

At a gathering on Friday, ministers from EU nations debated whether or not to cap gasoline costs to tame hovering vitality prices and inflation – an concept that has help from at the very least 15 states, however which is opposed by others together with Germany, Europe’s largest gasoline market.

Polish local weather minister Anna Moskwa mentioned after the assembly – which didn’t yield a agency dedication from Brussels that the EU will suggest a worth cap – a gaggle of nations would make a proposal of their very own.

“We’ll put together a legislative proposal with regards to gasoline worth caps,” Moskwa informed Reuters in an interview. Poland, Belgium, Italy and Greece are among the many states that may draft the proposal, she mentioned.

“We’ll draft a proposal and we are going to current it to the Fee and I hope the Fee takes it,” she mentioned.

EU insurance policies are normally proposed by the European Fee, after which EU nations and the European Parliament negotiate and approve the ultimate legislation.

Moskwa mentioned the proposal would cowl wholesale gasoline costs, and be prepared for EU vitality ministers to debate at a gathering on Oct. 11.

The Fee mentioned on Friday it could work with nations to develop concepts to tame gasoline costs forward of a gathering of EU leaders subsequent week, however didn’t explicitly comply with suggest a broad gasoline worth cap.

Brussels has warned {that a} wholesale worth cap on all gasoline transactions – each imports and home trades – might require important monetary sources, and include dangers.

“This is able to clearly impact costs, however would additionally successfully imply the suspension of EU’s gasoline market and create dangers to safety of provide,” EU vitality commissioner Kadri Simson informed a information convention after an EU vitality summit.

“To take such a drastic step in a accountable method, quite a few preconditions can be non-negotiable,” Simson mentioned, including that one situation can be a compulsory lower in EU gasoline demand, to make sure decrease costs don’t trigger a spike in gasoline use.

Reporting by Kate Abnett; Modifying by Toby Chopra

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