The European Commission is due to present a detailed plan to EU governments next month on tackling the energy crisis after energy ministers agreed not to disagree on EU proposals 

Last week, the EU's 27 heads of state met in Brussels and agreed to start work on a potential temporary and "dynamic" cap on the price of gas purchased in the European Union.

Agreement on this price cap could allow the EU to set short term limits on gas prices to mitigate against volatile speculative markets and skyrocketing costs.

But some member states remain reluctant, namely Germany and the Netherlands, who have expressed their concern that a price cap could make Europe unappealing to sellers, thus threatening the bloc's gas supply.

Nevertheless, the proposal received "broad support" across EU members, paving the way for the European Commission to draw up detailed language for the proposal, which will then go back to ministers for final sign off.

While taming volatile markets topped the agenda, the European Commission presented plans to ministers that would allow for the decoupling of gas and electricity prices.

Electricity prices have so far been benchmarked to gas prices, meaning the recent surge in gas prices has led to an equivalent increase in electricity prices, despite electricity production costs not surging.

Decoupling would allow electricity produced by cheaper sources, like renewables and nuclear, to be sold at a much lower cost, reducing energy bills for households and businesses across Europe.

The proposal received support from several member states but ministers said further cost-benefit analyses need to take place before they can make a decision on decoupling.

EU energy ministers agreed to keep talking, scheduling another extraordinary energy summit for the 24th of November, giving the European Commission a few weeks to draw up the concrete plans before hoping to receive the final and long-awaited sign-off by the bloc's 27 energy ministers.

Failing that, another meeting of their bosses, the EU's 27 heads of state will need to be scheduled to try and break the deadlock.

Cover photo: Goleniow Gas Compressor Station during opening of the Baltic Pipe gas pipeline between Norway, Denmark and Poland, in Budno, Poland, September 27, 2022. Cezary Aszkielowicz / Agencja Wyborcza.pl via Reuters