German Chancellor Olaf Scholz has promised to implement price caps on electricity in the near term. He shared this commitment during an interview with a television broadcaster, ZDF, explaining that the move will be carried out as soon as practicable.
The chancellor stressed that timely action on energy affordability is essential, and he reiterated the intention to set price controls promptly to shield consumers from volatile market fluctuations.
Earlier in September, Scholz indicated that Germany intends to end its dependence on Russian gas entirely by December this year, signaling a decisive shift in energy policy and supplier diversification.
The chancellor also argued that Russia cannot be regarded as a reliable gas partner, pointing to long-standing breaches of obligations and ongoing questions about supply reliability.
On September 2, Russia’s Gazprom press service reported a complete halt to gas transport through the Nord Stream pipeline due to process-related concerns regarding equipment operation. The pause is described as indefinite, underscoring the growing frictions in European energy logistics.
In August, Europe faced higher gas prices driven by disruptions to gas flows via Nord Stream. The average price for gas rose sharply, with estimates showing a 35 percent increase to around $2,450 per thousand cubic meters, and occurrences that temporarily peaked near $3,500 in the market, highlighting the stress on energy markets and household budgets. This trajectory reflects the broader geopolitical and infrastructural factors shaping European energy security, including regional policy responses and market expectations. Source: ZDF, Gazprom press service, energy market data