High EU leaders have promised to stipulate measures to set a restrict on gasoline costs as stress mounts on Brussels to behave extra rapidly to make sure the vitality disaster doesn’t final into subsequent yr.

A “detailed define” can be introduced to vitality ministers on November 24, European Fee president Ursula von der Leyen and the Czech prime minister Petr Fiala, whose nation holds the rotating EU council presidency, stated in a letter on Friday.

The pledge, directed to representatives of the 27 EU member states, comes hours after the fee gave a grim evaluation of the bloc’s financial prospects as hovering vitality costs hammer households and companies.

In its common forecast, the fee warned EU output will contract through the present quarter and the primary three months of 2023, with Germany one of many hardest-hit economies.

The EU will develop 0.3 per cent over the course of 2023, in accordance with the fee, properly under its earlier forecast for a 1.5 per cent growth.

EU capitals have been heaping stress on the fee to hurry up work on measures to cease a return to the excessive vitality costs of the summer season. Balmy climate in current weeks has stood in Europe’s favour by preserving gasoline demand costs low.

However in a gathering of EU ambassadors on Friday that continued into the afternoon, a number of member states declared their impatience with the fee’s efforts, in accordance with individuals within the room.

Greece, Italy and Poland have been among the many most vocal in calling for a cap on gasoline costs, which France additionally backs. The three international locations have threatened to dam different emergency measures if a proposal for gasoline value cap just isn’t introduced earlier than vitality ministers meet.

Germany and the Netherlands, nonetheless, are reticent and can solely comply with a measure if it doesn’t lead to elevated consumption or in merchants sending gasoline elsewhere.

A senior EU diplomat from a rustic in help of value caps stated that the letter was nonetheless “not totally passable” as a result of it solely promised the define of a proposal.

“We requested for a proposal,” they stated.

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