The EU will discuss the gas price cap again with the Russian Federation at a meeting on 19 December

At its latest meeting, the Czech government, which currently holds the EU presidency, proposed lowering the limit to 188 euros per megawatt-hour, compared with 275 euros proposed by the European Commission last month.

The plan will be discussed by energy ministers at tomorrow’s meeting. The market intervention proposal, put forward in the spring by a group of Member States, has caused a deep division between governments.

In recent weeks, Germany has advocated a cautious approach, while Belgium, Greece, Italy and Poland have called for a more aggressive approach with price caps below €200.

The new draft allows the European Commission to stop its intervention in the market if it undermines measures to reduce gas demand in the EU. The executive body also immediately suspends the mechanism if it threatens the security of supply.

The gas price deal will also reveal a broader package of measures to contain high energy costs, which are worrying for businesses and consumers. Gas and electricity prices soared to record highs earlier this year after a deep cut in Russian gas supplies due to the attack on Ukraine.