Germany is not blocking the European Union from solving the energy crisis, Economy Minister Robert Habeck told the Handelsblatt daily newspaper in response to criticism of his country’s stance on plans to cap gas prices.
“But I am skeptical when it comes to a fixed price cap in the market, because it would be either too high or too low.”
Member states had already agreed on “a flexible, dynamic and clever cap in times of excessive profits” in Prague, he added.
Earlier, the European Commission proposed a cap on gas prices for the bloc at 275 euros per megawatt hour for derivatives for the month ahead on the Dutch exchange, which serves as a benchmark for Europe.
The idea of such a cap divided EU countries, and a small but powerful camp of member states, led by Germany, opposed the intervention.