BRUSSELS—The European Commission is preparing a proposal to deal with skyrocketing electricity prices by curbing consumer demand and capping prices paid for non-gas sources of power generation.
The recommendations were prepared ahead of an emergency meeting of energy ministers on Sept. 9. They are part of an effort to exert more control over the electricity market after the war in Ukraine, outages at French nuclear reactors and an exceptionally hot and dry summer have sent power prices to record highs.