EU strikes deal to cap wholesale gas prices     

The so-called gas market correction mechanism is a temporary measure designed to prevent extreme price swings.

EU states have reached a deal to cap natural gas prices at €180, ending months of political wrangling over whether to intervene in an energy crisis that has risked pushing the continent into a recession.

The so-called gas market correction mechanism — a temporary measure designed to prevent extreme price swings — will apply for one year from the middle of February.