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EU fails to agree gas price cap amid deep divisions

Proposal slammed by many as a "joke"

24 November, 17:01
(ANSA-AFP) - BRUSSELS, NOV 24 - EU energy ministers failed Thursday to agree a cap on gas prices to mitigate the energy crunch in Europe amid deep divisions over an initial proposal slammed by many as a "joke". The ministers will now meet in the first half of December to try to bridge differences, said Czech Industry Minister Jozef Sikela, whose country holds the current presidency of the EU. He added that the ministers did manage to adopt a couple of other "important measures", including joint gas purchases to avoid intra-EU competition driving up prices, supply solidarity in times of need, and hastening authorisation of renewable energy sources. Several ministers going into Thursday's meeting complained that the gas price cap proposal on the table, unveiled by the European Commission just two days earlier, was clearly designed to never be used. The Polish and Spanish energy ministers called the proposal a "joke". Greek Energy Minister Kostas Skrekas said the cap "is not actually a ceiling" on gas prices, and "we are losing valuable time without results". (ANSA-AFP).

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