Despite record high European Union (EU ) natural gas storage levels and lower prices, the bloc’s executive arm may extend an emergency limit on the cost of gas that was implemented earlier this year to avoid any potential price hikes this winter.

The European Commission (EC) is reportedly considering an extension as an investigation of a leak on the Balticonnector pipeline continues and supply concerns grow as war rages in Israel. The EC would not confirm news media reports about the possibility of an extension or other energy measures being considered. 

“As for all emergency energy measures we introduced last year, the market correction mechanism expires in February next year,” an EC spokesperson said. “But it is premature to speculate on the potential extension of the...