Next EU Extraordinary Energy Council To Take Place On December 13 - Czech Trade Minister

PRAGUE (UrduPoint News / Sputnik - 26th November, 2022) The next Extraordinary Energy Council of the European Union will take place on December 13, Czech Minister of Industry and Trade Jozef Sikela said on Friday.

"I have just arrived from Brussels, where I chaired two important Councils of Ministers on energy. At the same time, we managed to finally agree on the date of the next Extraordinary Energy Council, where we will discuss proposals regarding gas price cap," Sikela said on Twitter.

On Tuesday, the European Commission proposed a cap price that would kick in if the front-month price on the Dutch gas exchange TTF exceeds 275 Euros ($286) for two weeks and if, at the same time, TTF prices are 58 euros higher than the liquefied natural gas global reference price for 10 consecutive trading days.

On Thursday, Italian Energy Minister Gilberto Pichetto Fratin said in a doorstep comment before the Energy Council in Brussels that at least 15 EU states have agreed to reject the Commission's price cap plan.

The EU energy ministers failed to reach an agreement on a gas price ceiling on Thursday and are expected to further discuss the Commission's proposal at their next meeting, according to Hungarian Foreign Minister Peter Szijjarto.

Since 2021, energy prices in EU countries have been surging as part of a global trend. After the beginning of Russia's military operation in Ukraine in February 2022 and the adoption of several packages of sanctions against Moscow by the EU, which have been also aimed at curbing imports of Russian gas, the increase in energy prices accelerated. Energy security rose to the top of both the global and national agenda, forcing European governments to resort to contingency measures.