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EU Seeks Power to Set Emergency Cap on Gas Prices
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BRUSSELS—European Union officials are seeking the power to impose an emergency cap on the price of natural gas on the bloc’s main trading exchange, part of a package of proposals to cushion consumers from high prices and fill storage tanks next year ahead of winter.
The European Commission, the EU’s executive arm, on Tuesday published proposals that include steps to encourage companies to pool their demand and buy gas together and rules for how gas could be shared across borders if some countries run short. Other measures seek to limit volatility on energy markets and boost the financial support that can flow to struggling consumers.
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