France will support price caps on Russian pipeline gas

BRUSSELS, September 9 — PRIME. France will support measures to curb gas and electricity prices, in particular, the introduction of a ceiling on the price of Russian pipeline gas, if such a proposal is put forward by the European Commission, the country’s Minister of Energy Transformation Agnès Pannier-Runachet said upon arrival at an extraordinary meeting of EU energy ministers in Brussels.

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Austria did not support the introduction of the “ceiling” of prices for Russian gas

She also said that the country will support other measures of other measures to be considered by the ministers at the meeting on Friday.

“France will support a mechanism to set a price ceiling on the spot electricity market; we will also support the measures proposed by the EC on gas: a mechanism for insuring contracts for gas purchases, mechanisms that limit financial speculation in this market, a platform for joint gas purchases,” she said.

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Agnès Pannier-Ryunachet added that a number of measures could be taken as soon as possible, while others, such as the creation of a joint platform for gas purchases, would take longer.

Energy producers, who are now in a winning position due to the fact that production prices are well below market prices, should help end consumers, she said. “Their contribution can be significant and can allow EU countries to support consumers and reduce their gas bill; we will support such measures at the EU level,” the French minister said.