Portuguese gov't announces measure to cap gas price

LISBON, May 13 (Xinhua) -- The Portuguese Council of Ministers announced on Friday a measure to halve the price of gas used for electricity production for both domestic and industrial consumers, who have been severely affected by this year's electricity price inflation.

The mechanism adopted by Portugal after negotiation with the European Union establishes that, for the next 12 months, gas will cost an average of 48.8 euros/megawatt-hour (MWh) -- almost half the current price.