EU leaders are calling for a deal to limit gas prices

Political disputes over an unprecedented intervention to curb the effects of the energy crisis have been going on for many months. They are now coming to a conclusion. An agreement to limit natural gas prices was supported by the leaders of the European Union. The price level is still up for negotiation.

The leaders put out a collaborative statement to ministers. At the summit in Brussels they called for the completion of the so-called market correction mechanism on Monday.

Thursday's political support from the leaders gives new stimulus for negotiations scheduled for next week. The exact price level that will trigger the intervention will be the main issue to be resolved. Heads of governments accepted a price cap range from 160 to 220 euros per megawatt hour in their discussions. According to diplomats competent on the subject, the EU executive authority initially proposed a level of 275 euros.