EU considers gas price cap as Middle East conflict raises energy costs

The European Union is considering a cap on gas prices to lower power costs. This comes as the conflict in the Middle East has driven up energy prices, costing the EU an estimated €3 billion over ten days.

EU Commission President Ursula von der Leyen said the bloc is weighing measures to curb these surging costs. She also stated that the EU's past move away from nuclear power was a strategic error, and warned that returning to Russian fossil fuels because of the war would be a historic mistake.