Europe Holds Emergency Talks on Energy Market

Wall Street Journal: “European energy ministers are debating plans for an intervention in the continent’s energy markets at an emergency meeting that is aimed at tamping down soaring electricity prices.”

“Diplomats said many countries—including the European Union’s biggest economies, Germany and France—appeared to agree ahead of Friday’s meeting on the idea of imposing a cap on the revenue earned by nuclear, renewable and other nongas producers of electricity, and redistributing the money to businesses and consumers.”

“Other measures under discussion include a plan to cut electricity use during peak demand this winter and a temporary cap on the price of natural gas imported from Russia. Some governments want the price cap extended to other sources of gas.”