European Union dims hopes for a price cap to contain soaring gas costs

The European Union’s executive signaled it does not see a price cap on imported natural gas as the best tool to rein in an unprecedented energy crisis and instead suggested a plan that would spread the soaring costs over time.
 

The European Commission presented its analysis of possible actions to contain gas prices at a meeting with representatives of national governments in Brussels on Monday, according to EU diplomats with knowledge of the talks. The EU’s executive arm was urged by the bloc’s leaders last month to assess a set of measures, including a dynamic price corridor on gas transactions,