EU countries seek way out of impasse over gas price caps

The question of how, when and whether to cap gas prices is set to dominate another meeting of European Union countries on Wednesday, as they pursue a joint plan to target high gas prices – a compromise that has eluded them for weeks.

The 27-country EU is plotting its next move to tame soaring energy prices and shield consumers from surging bills, as Europe heads into a winter of scarce Russian gas, a cost of living crisis and the looming threat of recession.

“We need to find a quick solution that will be applicable to all the European Union,” a senior EU official said. “National solutions are not a way forward.”