Brussels is weighing new powers to temporarily cap EU gas prices, which have recently hit record levels compared with the US.
European natural gas prices traded at the highest in more than two years this week, in part because of low temperatures and a lack of wind that has hampered renewable energy production. They are between three and four times higher than in the US, providing a critical handicap to European companies.
The European Commission is considering a cap as part of discussions about a “clean industrial deal” policy document to be presented next month, said three people with knowledge of the talks.
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