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Reuters
Reuters
Politics

Austria backs EU cap to end 'madness' of runaway power prices

FILE PHOTO: Power-generating windmill turbines are seen during the sunset at a wind park near Moenchhof, Austria May 2, 2019. REUTERS/Leonhard Foeger/File Photo

Austrian Chancellor Karl Nehammer backs a European Union-wide cap on runaway electricity prices, he said in a statement issued by his office on Sunday.

Austria's conservative-led government was initially sceptical at the idea of capping power prices but it has warmed to the idea as they have continued to rise in line with soaring gas prices following Russia's invasion of Ukraine.

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