A group of five EU countries (France, Spain, the Czech Republic, Romania and Greece) have proposed to investigate the reasons for the record rise in gas prices in Europe, according to a joint statement posted on Twitter by Bloomberg journalist Javier Blas.
“As for gas, it is necessary to study the functioning of the European gas market to understand why current gas contracts are not enough,” the statement said.
The five countries also called for common rules for gas purchases to mitigate the sharp jump in gas prices. The statement also called for greater coordination in gas procurement to enhance the overall negotiating position.
In addition, the document calls for the reform of the wholesale electricity market in the EU to better establish the link between the price paid by consumers and the average cost of electricity production.
The document says that this is a joint statement of the ministers of economy and finance of these five countries. The published copy is undated.
Gas prices in Europe at the auction on October 5 set several historical records. At the opening of trading on Tuesday, it exceeded $ 1,200 per 1,000 cubic meters, and by evening had risen to $ 1,455 per 1,000 cubic meters, rising for one trading day by $ 250.
Gazprom CEO Alexei Miller has previously said that delays in pumping gas into Europe’s underground storage facilities and growing demand for gas have led to record prices that could be exceeded in the near future.