UK biggest gas supplier Norway willing to discuss price cap

Norway is open to discussing long-term gas deals and price caps, which could help lower the UK’s sky-high energy costs.

Britain’s largest supplier of natural gas has seen its exports rise as Europe cuts ties to Russia. Now, Britain is being asked to do more to assist in the face of a severe winter that could cause blackouts and recession across many countries.

Norway’s Prime Minister Jonas Gahr Store stated: “I understand that Europe is now having a profound discussion about how energy markets function, how they can ensure more affordable prices for citizens and families, as well as how to manage the shortfall in gas after Putin’s aggression.”

According to him, the Financial Times reported that Norway is open to such a discussion.

The Norwegian leader however said that the EU must be cautious not to take measures that could jeopardize energy supplies before winter.

A price cap on Norway’s gas might help bring down British household energy bills, which could provide additional relief for families struggling with the cost of living crisis.

As part of a larger package of support, Liz Truss, the new Prime Minister is expected to announce this week a freeze in energy bills.

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