EU officials are currently working on decoupling gas and renewable energy prices.

EU Energy Commissioner Kadri Simson told the Financial Times there is strong political pressure to revamp the bloc’s energy policy and redesign its energy market.

It has been reported that the European Commission is mulling cutting the ties between fossil fuel prices and renewable energy prices and its proposals could be unveiled by March this year.

Many companies and ministers had previously advocated the idea of stopping high gas prices from dictating the cost of electricity produced by renewables.

Last year, Greg Jackson, Octopus Group Founder and Chief Executive, explained why renewable electricity could cost more during a gas crisis.