EU-Med countries seek more flexible gas price cap mechanism

The President of France Emmanuel Macron, centre, speaks next to Spain's Prime Minister Pedro Sanchez, left and the Prime Minister of Slovenia Robert Golob during a joint news conference at the EU-Med9 summit in Alicante, Spain, Friday Dec. 9, 2022. Spain is hosting a summit of nine leaders of Europe's Mediterranean countries with the energy crisis triggered by the Russian invasion of Ukraine likely to top the agenda. (AP Photo/J.M Fernandez

MADRID (AP) — Leaders and representatives of nine Mediterranean and Southern European countries on Friday called on the European Union to come up with a more flexible gas price cap mechanism than the recently proposed cap of 220 euros ($232) per megawatt hour.

The call made at a EU-Med9 summit in Spain further highlighted divisions within the EU over the proposed cap. The bloc initially proposed a cap of 275 euros last month but this met with considerable opposition. Several EU members want no price cap at all.

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