Joint letter on action plan on affordable energy prices

The undersigned trade associations (representing various market participants, including energy companies, banks, liquidity providers, and other stakeholders, as well as market infrastructure providers such as exchanges and clearing houses active in European energy markets) fully endorse the Union’s goals to reduce emissions, drive innovation, and strengthen the global competitiveness of European industries. However, we understand that the European Commission may be considering introducing a gas price cap as part of the Clean Industrial Deal.

The associations believe that the potential inclusion of a price cap could have far-reaching negative consequences for the stability of European energy markets and put at risk the security of supply across the continent. We therefore urge the European Commission to reconsider the idea of including a potential price cap mechanism, as it would undermine the objectives of the Clean Industrial Deal, and the progress made since the energy crisis.