In the run-up to today’s meeting of the Council of Energy Ministers, Germany and several other EU states clearly rejected a price cap for electricity in a joint statement on the tense situation on the energy markets. Previously, the EU energy agency ACER, as well as the market supervisory authority ESMA, had examined the price development. According to the reports, the record-high electricity prices are due neither to market manipulation nor to flaws in the existing electricity market design.
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