The crisis of setting pricing for gas prices ignites sharp differences between the countries of the European Union

12 countries, including Belgium, Italy, Poland and Slovenia, are pushing for a significant reduction in the planned European Union ceiling for gas prices, while the bloc is struggling to reach an agreement on this measure.

Gas prices have risen in Europe this year after Russia cut gas shipments in the wake of its invasion of Ukraine, driving up fuel costs and growing inflation.

European Union countries held urgent negotiations on Saturday in an attempt to prepare an agreement on a ceiling for gas prices for a meeting of energy ministers scheduled for December 13, but countries remain divided over the plan.

An official from one EU member state said countries were “reducing differences” in their positions, but others said little progress was made on Saturday.

The diplomats will conduct more negotiations on Monday.

Twelve of the 27 EU member states circulated a motion demanding that the maximum price be significantly lower than the latest level negotiated by countries.

“The text didn’t go far enough toward what we might consider a satisfactory settlement,” the states said.

The proposal was submitted by Belgium, Bulgaria, Croatia, Greece, Italy, Latvia, Lithuania, Malta, Poland, Romania, Slovenia and Slovakia.

The European Union countries have been debating for months about whether to set a ceiling on gas prices, but they haven’t bridged the gap in the divergent views so far.

Some diplomats are skeptical about the possibility of reaching an agreement this week, and indicated that countries unhappy with the latest proposal have enough support to prevent its adoption.

While the countries supporting the gas price ceiling say that this measure will protect their economies from rising energy costs, Germany, the largest economy and market for gas in Europe, and the Netherlands opposed it.

Both countries warn that the cap could disrupt the normal functioning of energy markets, discouraging gas producers from sending much-needed fuel to Europe.

Under the latest draft of the proposal being considered by member states, the cap is triggered if gas prices exceed 220 euros ($231.66) per megawatt-hour for five days in contracts of the nearest month to maturity in the Dutch Gas Trading Center (TTF) and increase 35 euros over Reference price for LNG based on its price valuations at the time.

The proposed cap is lower than the €275 per megawatt-hour limit proposed by the European Commission, but the 12 opposing countries said it was still not low enough.