EU to intervene in energy market as winter loomsBloombergThe EU is preparing to step into its energy market, intervening in the short term to dampen soaring power costs as the continent braces for the economic hit of energy shortages this winter. Introducing a maximum regulated price in an emergency would be limited to its duration and the market price should be used as long as possible. “Skyrocketing electricity prices are now exposing, for different reasons, the limitations of our current electricity market design,” Von der Leyen said earlier on Monday at the Bled Strategic Summit in Slovenia. European natural gas prices on Monday plunged the most since March after Germany said its gas stores are filling up faster than planned. “We will look very carefully at what instruments we have that we can use to bring down electricity prices,” Scholz said.
