In a letter sent to the European Commission on Tuesday 11 February, 11 market players, including energy companies and banks, called for a rejection of the idea of a price cap mechanism. The latter has been mooted as a way of tackling high energy prices in Europe in the face of American and Chinese competitors (see EUROPE B13561A9), but the letter states that “it would undermine the objectives of the Clean Industrial Deal, and the progress made since the energy crisis”.
They are...