Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

EU should be 'very careful' about capping gas prices, warns German minister

EU should be 'very careful' about capping gas prices, warns German minister

The European Union should be "very careful" about imposing a price cap on all gas imports entering the bloc, Anna Lührmann, Germany's minister of state for Europe, has warned.
The idea of an EU-wide gas cap has gained traction in recent weeks after prices broke new records in August and pushed electricity bills to unsustainable highs. Italy, Belgium, Greece, Sweden and Poland are among those backing the initiative, which is still in its early stages.

But Germany, the EU's largest economy and gas consumer, remains opposed, believing the measure could scare suppliers away and endanger the bloc's security of supply.

"The issue with the price cap is that: if you introduce a price cap, as the EU unilaterally, and all the other consumers around the world don't do it, then the gas will go to other consumers and thus we might have a shortage in gas supplies," Lührmann told Euronews in an interview.

"So, I think we should be very careful with these kinds of price caps and do everything we can to diversify our supply structure. That will also help to address the price issues."

Lührmann said that, instead of imposing a horizontal price cap on gas imports, the EU should engage directly with its main gas suppliers and negotiate lower prices.

"It would be important to discuss with individual gas suppliers, such as Norway, ways to reduce the price because they have a big interest in the European Union and the European market," the minister said.

"But overall, there's no alternative to actually finding the ways of how we can use energy more efficiently and how we can build up a sustainable energy system [based] mainly on renewable sources."

Norway, which this year replaced Russia as the EU's leading gas supplier, has said it is "skeptical" about a price cap but open to finding solutions. The country's trade surplus reached an all-time high of almost €20 billion in August, mostly due to soaring gas prices.

The European Commission is studying the measure's potential risks, including its impact on the liquefied natural gas (LNG) market, and has not yet tabled a formal proposal for ministers to discuss.

For the time being, the EU's emergency package will focus on three elements: electricity savings during peak hours, a cap on the excess revenues made by non-gas power plants (such as wind, solar and nuclear) and a windfall tax on the surplus profits reaped by fossil fuel companies.

The overall goal is to curb demand while raising extra money for governments.

"We can use those surpluses and give them back to consumers, to citizens, particularly those in need, so that we reduce the prices for them," Lührmann said.

The minister, who belongs to the Greens, said the new EU measures are a "very good" starting point but should be complemented by an extra effort at the national level to boost renewables.

"I'm quite convinced that if we follow them through," she said, "we [can] manage to get through this winter and also create conditions to make our economies sustainable without Russian energy supplies."

EU energy ministers are set to meet on Sept. 30 to debate and green light the emergency measures.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Woman Receives Gift Card for Christmas – Discovers It Is ‘Worth’ 63,000,000,000,000,000 Pounds
United Nations Calls for Global Action Against Disinformation and Hate Speech Online
Tucker Carlson warns of an inevitable clash in Western societies over mass migration
OpenAI CEO Sam Altman praises the rapid progress of Chinese tech companies.
Poland's President Karol Nawrocki ENDS support for Ukrainian citizens:
Italy's PM Giorgia Meloni highlights record employment and economic growth
Chancellor Friedrich Merz Re-elected as CDU Leader, Opposes AfD Influence
Trump Directs Government to Release UFO and Alien Information
Trump Signs Global 10% Tariffs on Imports
UK Government Considers Law to Remove Prince Andrew from Royal Line of Succession
Two teens arrested in France for alleged terror plot.
US Supreme Court Voids Trump’s Emergency Tariff Plan, Reshaping Trade Power and Fiscal Risk
Greek Prime Minister Kyriakos Mitsotakis advocates for a ban on minors using social media.
Meanwhile in Time Square, NYC One of the most famous landmarks
Jensen Huang just told the story of how Elon Musk became NVIDIA’s very first customer for their powerful AI supercomputer
Former British Prince Andrew Arrested on Suspicion of Misconduct in Public Office
Former President Yoon Suk Yeol Sentenced to Life in Prison for Abuse of Authority
Unitree Robotics founder Wang Xingxing showcases future robot deployment during Spring Festival Gala.
German Chancellor Friedrich Merz calls for real name use on social media.
Italian Police Arrest Man After Alleged Attempt to Abduct Toddler at Bergamo Supermarket, Child Hospitalised With Fractured Femur
British Tourist Arrested at Hong Kong Airport After Meltdown and Vandalism
European Commission Plans Purchase Incentives Limited to Vehicles Manufactured Largely in the EU
French District of Pas-de-Calais Introduces Immediate License Suspension for Drivers Using Mobile Phones
Volkswagen Targets €60 Billion in Cost Reductions as Sales Decline and Global Pressures Intensify
Eighty-Year-Old Lottery Winner Sentenced to 16.5 Years for Drug Trafficking
Rubio Calls for Sweeping U.N. Reform, Saying It Has Failed to End Wars in Gaza and Ukraine
10,000 Condoms Distributed at Winter Olympics 2026 Athlete Village Depleted Within 72 Hours
Poland's President Advocates for Evaluating Independent Nuclear Weapons Development
Mayor of Serdobsk in Russia’s Penza Region Resigns After Housing Certificates Granted to Migrant Family Trigger Public Outcry
China’s EV Makers Face Mandatory Return to Physical Buttons and Door Handles in Driver-Distraction Safety Overhaul
UK Green Party Considering Proposal to Legalize Heroin for an Inclusive Society
OpenAI and DeepCent Superintelligence Race: Artificial General Intelligence and AI Agents as a National Security Arms Race
We will protect them from the digital Wild West.’ Another country will ban social media for under-16s
Heineken announces cut of 6,000 jobs due to declining beer demand
Apple iPhone Lockdown Mode blocks FBI data access in journalist device seizure
Belgium: Man Charged with Rape After Faking Payment to Sex Worker
KPMG Urges Auditor to Relay AI Cost Savings
Canada Opens First Consulate in Greenland Amid Rising Geopolitical Tensions
China unveils plans for a 'Death Star' capable of launching missile strikes from space
Investigation Launched at Winter Olympics Over Ski Jumpers Injecting Hyaluronic Acid
U.S. State Department Issues Urgent Travel Warning for Citizens to Leave Iran Immediately
Wall Street Erases All Gains of 2026; Bitcoin Plummets 14% to $63,000
Eighty-one-year-old man in the United States fatally shoots Uber driver after scam threat
Political Censorship: French Prosecutors Raid Musk’s X Offices in Paris
AI Invented “Hot Springs” — Tourists Arrived and Were Shocked
France Begins Phasing Out Zoom and Microsoft Teams to Advance Digital Sovereignty
Tech Market Shifts and AI Investment Surge Drive Global Innovation and Layoffs
Global Shifts in War, Trade, Energy and Security Mark Major International Developments
Markets Jolt as AI Spending, US Policy Shifts, and Global Security Moves Drive New Volatility
Tesla Ends Model S and X Production and Sends $2 Billion to xAI as 2025 Revenue Declines
×