OIES Webinar – Price Caps in Europe’s Energy Markets

OIES hosted a webinar in which research fellows debated the possibility of price caps on European wholesale gas prices and their likely impact, discussed the possibility negotiations with gas suppliers to Europe (both pipeline and LNG) to moderate prices and also likely EU response to a complete curtailment of Russian gas supply in the next few months. The webinar also covered the electricity market, addressing the question of the decoupling of gas and electricity prices, the Iberian example for managing electricity prices and the current EU proposal to cap the prices charged by inframarginal power producers. A broad Q&A session also looked at the EU solidarity arrangements, the potential for policies to constrain energy demand in Europe and the possible reaction of Asian buyers to price caps in Europe.