Trade The News story
(EU) EU said to be unlikely to cap price of Russian gas (as speculated); Draft regulation on the “electricity emergency tool” contains neither a price cap on Russian gas nor on imported gas - UK press
- No rate for the windfall tax is proposed in the draft text; The final text could still change
**Reminder: on Sept 12th, More speculation that EU proposes mandatory power-demand cut and tax on profits; Revenue cap reportedly would apple to oil, wind, solar, geothermal, nuclear, biomass and some hydropower installation
- on Sept 9th, EU ministers said to urge cap on cheaper power generators revenue and tax on fossil fuel firms' profits - press, citing draft documents
- On Sept 9th, EU ministers oppose steps to cap only Russian gas; Ask EU commission for steps to cut price of all gas - statement
- On Sept 7th, EU Commission President Von der Leyen confirmed to propose a cap on Russian gas prices; Looking at price cap for LNG; Also to propose a cap on revenues of companies producing electricity with low costs; To propose mandatory target for reducing peak electricity, cap on revenues low-cost energy companies and solidarity contribution for fossil-fuel firms
- On Sept 1st, EU said to be looking at all possibilities to intervene in energy market, including energy price caps, windfall profit taxes and electricity demand reduction tools; EU Commission President Von der Leyen to outline ideas on EU power plan and energy price caps in Sept 14th's speech
***Link: https://www.theguardian.com/business/2022/sep/13/leaked-paper-reveals-eu-is-unlikely-to-cap-price-of-russian-gas?utm_term=Autofeed&CMP=twt_gu&utm_medium&utm_source=Twitter#Echobox=1663059182
**Reminder: on Sept 12th, More speculation that EU proposes mandatory power-demand cut and tax on profits; Revenue cap reportedly would apple to oil, wind, solar, geothermal, nuclear, biomass and some hydropower installation
- on Sept 9th, EU ministers said to urge cap on cheaper power generators revenue and tax on fossil fuel firms' profits - press, citing draft documents
- On Sept 9th, EU ministers oppose steps to cap only Russian gas; Ask EU commission for steps to cut price of all gas - statement
- On Sept 7th, EU Commission President Von der Leyen confirmed to propose a cap on Russian gas prices; Looking at price cap for LNG; Also to propose a cap on revenues of companies producing electricity with low costs; To propose mandatory target for reducing peak electricity, cap on revenues low-cost energy companies and solidarity contribution for fossil-fuel firms
- On Sept 1st, EU said to be looking at all possibilities to intervene in energy market, including energy price caps, windfall profit taxes and electricity demand reduction tools; EU Commission President Von der Leyen to outline ideas on EU power plan and energy price caps in Sept 14th's speech
***Link: https://www.theguardian.com/business/2022/sep/13/leaked-paper-reveals-eu-is-unlikely-to-cap-price-of-russian-gas?utm_term=Autofeed&CMP=twt_gu&utm_medium&utm_source=Twitter#Echobox=1663059182