The measures are slated to be announced today before European leaders gather in Brussels later this week to discuss and decide on them. A so-called "dynamic" price cap for natural gas is now the idea that is being proposed, after having seen various options failed to be agreed upon previously.
In this instance, there will be a supposed maximum "dynamic" price (also under specific conditions) for which transactions would take place on the Dutch TTF - which is the benchmark for gas traded within the region. In any case, said measure is said to only be temporary (less than three months) as the bloc has to come up with a more strategic option in dealing with the gas crunch.
We'll wait and see what the official proposal will be later today but much like all things difficult in Europe, don't expect any easy and quick solutions for a compromise.
