EU will suspend gas price cap if risks outweigh benefits

Floating LNG terminals in Wilhelmshaven
General view of the new floating LNG gas terminal, which allows Germany to import LNG via ship from other countries, in the harbour in Wilhelmshaven, Germany, November 15, 2022. REUTERS/Fabian Bimmer/

BRUSSELS, Dec 19 (Reuters) - The European Commission stands ready to suspend a gas price cap agreed by European Union countries, if an analysis by regulators shows the risks of the measure outweigh the benefits, the bloc's energy commissioner said on Monday.

"The Commission stands ready to suspend ex-ante the activation of the mechanism if an analysis from ECB, ESMA and ACER shows that the risks outweigh the benefits," Kadri Simson told a press conference.

Reporting by Kate Abnett; Editing by GV De Clercq

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