The Council of the European Union has voted in favor of the gas cap; Hungary voted against it.
EU energy ministers reached a deal on the gas price cap on Monday. “We have succeeded in finding an important agreement that will shield citizens from skyrocketing energy prices,” Czech Minister of Industry and Trade Jozef Sikela announced at a press conference, representing the Council’s Czech presidency.
According to the Council’s statement, the regulation “is a temporary emergency measure that aims to limit episodes of excessive gas prices that do not reflect world market prices, while ensuring the security of energy supply and the stability of financial markets.”
After the meeting, Hungary’s Minister of Foreign Affairs and Trade, Péter Szijjártó, called the gas price cap “harmful, dangerous and totally needless.” He said that the EU should have been dealing with the pressing energy issues such as the search for new resources and the development of infrastructure, MTI reports.
Szijjártó noted that the facts on which the deal is based were relevant back in August, but Europe has managed well without the gas price cap in the meantime. According to the Minister, the cap risked bumping up prices if less gas is available as a result, or if the cap’s threshold is above current market prices.
The ministers held a “test vote” on the gas price cap: nine countries including Hungary voted against it, but this was not enough to form a blocking minority. Szijjártó said that no matter how many votes they hold, Hungary will keep voting ‘no.’
Featured photo via Facebook/Szijjártó Péter