EU Commission unveils details of electricity price cap
The European Commission is set to present a proposal that includes a price cap on electricity generated from sources other than gas.
According to a draft obtained by The Financial Times, the European Commission recommends that member nations introduce a price cap of EUR 200 per MWh on electricity generated by wind turbines, nuclear power plants and coal-fired plants.
The spot price for electricity currently ranges around EUR 400 MWh in various European nations, as electricity prices are linked to gas prices, which have risen substantially since Russia’s invasion of Ukraine.
In addition, the European Commission also proposes a mandatory target for lowering power consumption by 5% during periods of peak load.
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