European Union nations have agreed to cap soaring wholesale gas prices to protect consumers across the bloc.

From 15 February, prices will be limited if they breach 180 euros per megawatt hour for three days running.

It follows weeks of wrangling in which Germany and others sought safeguards to ensure the cap would be suspended if it had negative consequences.

Gas prices have spiked as EU countries seek ways to import less Russian gas following its invasion of Ukraine.

If Russia stops sending gas, are the other nations that will be expected to do so be agreeing to a low price for their gas? If not, Euro citizens can comfort themselves with good intentions as they pay large for gas next winter.