Data price cap of €7.7 per GB to come into effect on 15 June, will fall to €2.5 by 2022.

The EU this week finalised caps on wholesale roaming rates, paving the way for the end of retail roaming charges from 15 June.

In a statement on Wednesday, the European Commission said that its negotiators, as well as those from the European Parliament, and the European Council, agreed to limit wholesale prices to €0.032 per minute for voice and €0.01 per SMS.

Data will be capped at €7.7 per GB; the price will fall gradually over the next five years to €2.5 per GB by January 2022.

"This was the last piece of the puzzle," said Andrus Ansip, the Commission’s vice president for the Digital Single Market (DSM).

"As of 15 June, Europeans will be able to travel in the EU without roaming charges. We have also made sure that operators can continue competing to provide the most attractive offers to their home markets," he said.

The wholesale cost of data was the major sticking point in the negotiations.

In December, the Council proposed an initial cap of €10 per GB, falling to €5 per GB by mid-2021. That was considerably higher than the Parliament’s proposal in November of €4 per GB, falling to €1 per GB. In June, the Commission suggested a cap of €8.50 per GB.

"I warmly thank the European Parliament rapporteur Miapetra Kumpula-Natri and all the negotiators from the European Parliament as well as the Maltese Presidency of the Council of the EU and all those involved in achieving this milestone. Their efforts made it happen," said Ansip on Wednesday.

The final agreement will take effect once it has been formally approved by the Parliament and Council.

The Commission will also conduct a review of the wholesale market, delivering an interim assessment in December 2018, and final assessment by the end of 2019.