MET Group Advocates For Europe-Wide Energy Bank [Forbes]
KEPPEL CORP LTD S/ADR (KPELY)
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Source: Forbes
Recently Lakatos, chairman and Group CEO of MET Group , has been speaking out strongly in favor of a European energy bank to correct some of the chaos which often convulses European energy markets and leads to general instability. As laid out by Lakatos, in an interview with Mlex, an energy news service which is part of LexisNexis, the energy bank could be modeled on a central bank. Since the Russian invasion of Ukraine in 2022, there has been a lot of chaos with prices and supplies yo-yoing, often reflecting geopolitical uncertainty and state actions. Some of the normal market protections, like long-term contracts, haven't been effective, largely because vendors and buyers have found the market so unstable that they have been reluctant to enter into binding, long-term commitments. MET Group, which is based in Zug, Switzerland, points out that the idea of a European energy bank is far from universal acceptance, but there have been adjacent ideas. One idea is that the energy b
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