Norway says ‘no’ to a gas price cap – Oslo's gas payday is equivalent to about £350 for each Norwegian man, woman and child

Secondly, some sort of price signal maintenance is arguably important to ensure buyers reduce the demand, since the problem is in fact not having enough gas. If you don’t let prices do that, the alternative is rationing.

Quite important point. There simply is not enough gas. Households and industries must reduce usage. Economic pain is unavoidable this year.

Hopefully once new terminals and pipelines are built the situation will be improved next year.

I think it's important to make a distinction between prices and profits.

High prices do more than anything else to encourage conservation. They are also very painful and regressive. But if you give people money without lowering the prices (using some UBI scheme, perhaps), they still have the same high incentive to conserve, because they can keep the money if successful.

On the other hand, profits are an incentive to increase supply - that is, if anything can be done about it in time. Sometimes it's not possible. And on that note, here's an interesting Twitter thread about a German plan to tax the windfall profits of electricity generators - but without lowering spot prices.

Getting back to this article, it's not clear what more revenue for Norway does to encourage supply?