EU chief proposes cap on wholesale gas prices to fight energy inflation crisis

A group of countries, including Spain, Italy, Belgium, Poland, Greece, and France has been urging a limit on all wholesale gas market transactions

European Commission President Ursula von der Leyen said the cap would still require a broad reduction in energy usage in the EU. 

European Commission President Ursula von der Leyen has proposed that the EU should step into the gas market to limit the price in relation to a key benchmark, which she said is no longer representative of the true cost.

She added that such a cap would still require a broad reduction in energy usage in the EU.