EU ministers adopt windfall levy on fossil fuel, but no deal on gas price cap

Slovenia’s Minister for Infrastructure Bojan Kumer arrives for a meeting of EU energy ministers in Brussels on Friday, Sept. 30, 2022. European Union energy ministers were set Friday to adopt a package of measures including a windfall levy on profits by fossil fuel companies, but a deal on capping gas prices remained off the table. (AP Photo/Virginia Mayo)

European Union energy ministers have adopted a package of measures to ease the energy crisis, including a windfall levy on profits made by fossil fuel companies, but a deal on capping gas prices remained off the table.

With energy prices soaring across Europe since the Russian invasion of Ukraine, EU member countries reached a deal on proposals from the European Commission that the bloc’s executive arm said could help raise 140 billion dollars (£125 billion) to help people and businesses hit by the crunch.