European Commission President Ursula von der Leyen will meet International Energy Agency chief Fatih Birol today to address Europe's energy crisis as gas prices surge following Middle East conflict. The meeting, originally scheduled before recent tensions, now carries added urgency as gas prices hit record highs and threaten to drive inflation across the bloc.

Energy ministers from seven countries including Sweden and Denmark have urged the European Commission to maintain the current marginal pricing system, arguing no better alternative exists. The system, which sets electricity prices based on the most expensive energy source like gas, has caused extreme volatility with prices swinging dramatically based on renewable availability. This week's gas price surge has intensified scrutiny of the approach.

Meanwhile, Swedish Prime Minister Ulf Kristersson has criticized proposed grid reforms as a power grab by the Commission, arguing that Europe needs more reliable power production rather than regulatory changes. The Commission will discuss price relief measures for households and businesses, though experts question whether Europe's gas stocks at just 30 percent after a cold winter can provide stability.