EU aims to close deal on gas price cap on Monday, Czech minister Sikela says

European Union countries aim to finally agree on a price cap for gas on Monday, even though some countries still fear a price ceiling might cause more problems than it solves, Czech Industry Minister Jozef Sikela said on Tuesday. "I think we have a good feeling where we can basically fix the final amount," Sikela told a news conference after a meeting of EU energy ministers.

"However, it is an extremely fragile balance and this is the first time that we basically try to intervene in the global markets." Sikela said the ministers had requested expert advise before their next meeting on Monday on the level of the price cap, as some countries still fear it will cause bigger problems than the current energy crisis.

He added that the proposal for the cap would include ways to suspend it if it turns out it doesn't function well.