EU members discuss gas price cap

European Union energy ministers are about to discuss energy prices today. The contentious issue at the center of these negotiations is a wholesale price cap on gas. The European Commission has proposed capping the gas price if it hits 275 euros per megawatt hour for two consecutive weeks and if the difference between that and the world price of liquified natural gas is equal to or greater than 58 euros. The measure is aimed at protecting consumers from wildly fluctuating gas prices.