EU mulling energy price caps, options to cut power demand

The European Commission is looking into options to cap energy prices and cut electricity demand, as part of its upcoming proposals to tackle soaring energy costs, a senior European Commission official said on Thursday.

"There is work on emergency measures on electricity prices. There might be also something on demand reduction for electricity," Mechthild Wörsdörfer, Deputy Director General of the Commission's energy department, told a meeting of European Parliament's energy committee.

The Commission is also looking at reforming the European Union's electricity market design in the longer term, she added.