24 November | CEOs

Germany does not block EU energy solution, while being “skeptical”

German Economy Minister Robert Habeck said that the country has no intention to prevent the European Union (EU) from resolving the energy crisis in the region. The politician stated it in an interview with the weekly newspaper Handelsblatt as a response to criticism of Germany's stance on setting a price threshold for gas by the EU. 

Habeck said that the process of establishing a fixed price for gas is questionable, since the cost could either be overstated or understated. The minister expressed his disagreement with the initiative. However, Germany is not planning to use its veto power against the EU package of measures. 

The European Commission chairman made a proposal on Tuesday to cap gas prices at 275 euros per megawatt hour ($286.91). The limit is expected to prevent price spikes on the derivatives markets. The price cap mechanism is likely to be introduced on the Dutch TTF exchange, serving as a benchmark for Eurozone countries.

EU members have disagreed on this issue. Several countries, led by Germany, expressed strong opposition to the set of measures introduced.

Subscribe to our newsletter and stay up to date with all the news!