EU Gas Price Cap: An Exercise in Futility
Last week, the European Union saw a cap on natural gas prices come into effect in hopes of curbing the risk of a repeat of last year’s eye-watering gas price jump to more than $350 per megawatt-hour. That spike in prices, which occurred in the summer after the Nord Stream pipeline—the biggest conduit of Russian gas to Europe—was blown out of commission saw businesses shut down and people gather to protest shy-high electricity bills. And the EU really doesn’t want this to happen again. The agreement for the price cap was no easy feat.…For Feedback and Comment, write to us on hello@newswire.ae
