Energy Transitions Podcast: Why a gas price cap could worsen the energy crisis

Posted on: 2 February 2023

Europe’s Energy Council recently voted for an EU gas price cap despite warnings from the European Federation of Energy Traders (EFET) and other industry representatives.

Europe’s Energy Council recently voted for an EU gas price cap despite warnings from the European Federation of Energy Traders (EFET) and other industry representatives.

The question is, what happens now?

Patrick Bauduin, content director of Enlit Europe, spoke to Mark Copley, CEO of EFET about how this will impact Europe’s gas markets. He explains why political intervention remains one of the biggest risks to the energy industry potentially reducing confidence in the long term.

"...we have a policy which is reducing the effictiveness of [the] market and it's sending gas trading to locations outside of the EU. That is somewhat bizarre from my perspective and I don't think that sends the right signal to investors or traders..."
— MARK COPLEY

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Previous episodes:
Reforming Europe’s energy market
What the Inflation Reduction Act means for the US and Europe
Can European policy combat the energy crisis?

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