The European Union is unveiling a new emergency package to tackle the energy crunch, betting on steps to bolster solidarity among member states, Bloomberg reports. But the bloc will refrain from immediate gas-price caps amid political divisions and concerns over security of supply.
The European Commission plans Tuesday to propose measures to avoid extreme price spikes in energy derivatives and to use the EU’s joint purchasing power as a leverage in negotiations with global gas suppliers, according to a draft document seen by Bloomberg News. The bloc’s executive arm, also wants to launch a new liquefied natural gas index to better reflect the region’s energy reality after a cut in supplies of pipeline gas from Russia.
