The European Union is gearing up to release emergency measures for a full-scale gas supply shock on Wednesday, with a leaked memo calling for a range of potential actions, from a controversial cap on gas prices to the creation of a new buyers’ “cartel”. “A different set of measures may become worth considering in the event of a sudden large scale or even full disruption of the supplies of Russian gas leading to unbearably high gas prices and inadequate supply of gas,” the European Commission said in the leaked memo , published by Euractiv.com. One measure being considered is temporarily capping prices to give customers a reprieve and to reduce inflationary pressure. However, this is a controversial measure that the Commission itself finds dangerous. Natural gas prices in Europe have historically fallen below 30 euros per MWh, but are now hovering around 100 euros per MWh, and at some […]