EU Weighs Gas Price Cap to Lower Power Costs Amid Iran War (1)

The European Union is considering a gas price cap as part of a broader effort to curb the fuel’s influence on regional power prices and shield consumers from extreme volatility.

European gas futures have surged because of the war in the Middle East, showing once again how exposed the continent is to global energy markets. But even before US President Donald Trump launched the attack on Iran, the region was grappling with how to bring down prices to prevent more factories closing because of rising costs.

“It is crucial that we reduce the cost impact when gas sets the electricity ...