The European Union prepares a mechanism to cap gas prices.

The European Commission is considering the possibility of capping gas prices in the European Union due to their record surge, reports the Financial Times citing sources.

This week, gas prices in the EU reached the highest level in two years due to adverse weather conditions and lack of wind, which impacted the energy situation in the union countries.

It is noted that gas prices in the EU are significantly higher than in the USA, leading to problems for businesses.

Some representatives in Brussels are considering the possibility of introducing price caps on gas as part of the 'clean industry' plan, which is to be presented in March. This will involve supporting the EU industry considering the issues, including trade relations with the USA. There is also a possibility of banning price increases by traders in the summer when European countries are building reserves for winter.

Nevertheless, traders argue that such restrictions could undermine confidence in the European market and lead to negative consequences for the stability and security of supply. This was noted in a letter sent to EC President Ursula von der Leyen from 11 groups, including the Association of European Energy Exchanges and the Association of Financial Markets in Europe.