Gentiloni: Dynamic price cap could be the solution

Friday, 07. October 2022 10:50

European Economy Commissioner Paolo Gentiloni (pictured) stated on Friday that a dynamic price cap could be the right solution for the energy crisis.

"The idea of a blocked price cap may have contraindications in the sense that the trend of the markets, the treatment towards countries - because it is clear that the attitude towards Russia cannot be the same as that towards Norway or Algeria -require a fairly sophisticated tool, a dynamic price cap could meet this need," Gentiloni told Radio 1.

Moreover, the commissioner pointed out that Europe currently has more than 90% of gas storage and has reduced the Russian commodity from 40 to 7.5%. He also went on to stress that currently the different positions that existed about this topic are now "approaching."

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Author:
Baha Breaking News (BBN) / JG