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Europe’s Energy Shock Spurs Rethink of Liberalized Gas Markets
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Rocked by its biggest energy shock since the 1970s, Europe is unpicking parts of a two-decade endeavor to foster a competitive market in natural gas.
In coming weeks, the European Union will ask member states for the ability to cap gas prices in extreme market conditions. It wants energy companies to club together to gain price-negotiating clout against overseas exporters. And it is planning a new reference for gas prices in the region.
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