EU’s von der Leyen pitches temporary gas price caps to EU leaders – letter

BRUSSELS (Reuters) – The European Union should consider imposing a temporary limit on gas prices and also look at a specific cap on the cost of gas used to generate power, European Commission President Ursula von der Leyen said in a letter sent to EU country leaders on Wednesday.

“We should consider a price limitation in relation to the TTF in a way that continues to secure the supply of gas to Europe and to all Member States and that would demonstrate that the EU is not ready to pay whatever price for gas,” von Der Leyen said, referring to the Dutch Title Transfer Facility (TTF) gas price.

Such a cap would be a temporary fix while the EU works on launching a new gas price benchmark, she said. EU leaders will discuss whether to cap gas prices at a meeting on Friday in Prague.

(Reporting by Kate Abnett; editing by Philip Blenkinsop)