European Commission Has No Evidence Of Gas Market Speculations - Commission President

European Commission Has No Evidence of Gas Market Speculations - Commission President

The European Commission has no evidence of speculation in the gas market, the head of the European Commission, Ursula von der Leyen, said Friday, adding that the European Securities and Markets Authority (ESMA) plans to investigate possible anti-competitive behavior in the energy market

MOSCOW (UrduPoint News / Sputnik - 22nd October, 2021) The European Commission has no evidence of speculation in the gas market, the head of the European Commission, Ursula von der Leyen, said Friday, adding that the European Securities and Markets Authority (ESMA) plans to investigate possible anti-competitive behavior in the energy market.

"ESMA will look into the gas market specifically and the ETC market specifically to have a look at whether there is any kind of speculation; we do not have any evidence so far," the president said during a press conference.

The European Union has seen a spike in natural gas prices over the past few months, driven by growing energy demand in an economic recovery after months of lockdowns, coupled with a limited supply. The peak price of gas futures in Europe exceeded $ 1,900 per 1,000 cubic meters in early October.