The European Union can learn from Spain and Portugal’s mechanism to cap the price of gas used in power generation, although the scheme is not suitable to immediately roll out across Europe, the EU’s head of energy policy said on Tuesday.
“We can certainly learn from their experience. The measures are not automatically suitable for Europe,” EU energy commissioner Kadri Simson told a European Parliament committee meeting, citing the Iberian peninsular’s numerous liquefied natural gas terminals, which many EU countries do not have, as a reason why the scheme could not work across the bloc.
The European Commission is working on policy options to rein in gas price caps. This work will be guided by the outcome of a meeting of EU country leaders on Friday, Simson said.