European ministers will discuss radical measures to rein in soaring energy costs, from gas price caps to a suspension of power derivatives trading, as the bloc races to respond to the deepening crisis.
The Czech Republic, which holds the European Union’s rotating presidency, is set to include those tools on a list of emergency intervention options to be discussed at a meeting of energy ministers on Friday, according to a draft document seen by Bloomberg News.
Europe is fighting to stave off an energy catastrophe that’s threatening to become an economic, social and financial crisis . Nordic authorities moved this weekend to bolster the liquidity of utilities struggling with collateral requirements, saying there was a risk of a “Lehman” moment.
