EU countries consider 180eur/MWh trigger for gas price cap - draft

European Union countries' energy ministers were discussing a draft compromise on Monday to cap gas prices if Europe's benchmark gas price spikes to 188 euros per megawatt hour, a document showed.

The latest compromise proposal, drafted by the Czech Republic which holds the EU's rotating presidency, would trigger the cap if prices on the Dutch Title Transfer Facility (TTF) gas hub's front-month contract exceed 180 euros per megawatt hour for three days.