Berlin, EU gas purchases better way against high prices – Economy

“Joint purchases” of gas “in the EU are the most efficient way to keep the price of gas low”. This was stated by the German Minister of Economy and the Environment, Robert Habeck, arriving at the Energy Council in Luxembourg. “Europe has great market power and if countries decide to coordinate with each other and form purchasing groups, the impact of a Europe that is no longer in competition brings prices down,” explained the vice-chancellor. “I think this is the main tool and we consider it more efficient than a risky tool like the gas ceiling price.”

And a decision on the “mechanism of a ceiling on the price of gas” is expected “at the next EU Council of Energy Ministers”, he added. “The work continues constantly”, underlined Habeck, describing the political agreement reached by the EU leaders last Friday as “a good success”. “We want dynamic price limits, we need to maintain security of supply” and “prevent speculative swings on the stock exchanges so as not to increase the market’s susceptibility to stressful situations”, he highlighted.