Reppublica: EU may delay introduction of gas price cap until December

The decision on the proposal of the European Commission on the introduction of restrictions on gas prices in the European Union may be postponed until December. In this form, the initiative will not satisfy the countries involved in the implementation, writes the newspaper La Repubblica. The ministers for energy security of European states are to meet for the next meeting on November 24th.

The concept of a price ceiling in the current proposal is virtually absent, the publication points out. The proposed conditions for its introduction are such that the measure cannot be applied in practice. Thus, the restriction comes into force if the gas price for at least 14 days exceeds €275 per MWh on the Amsterdam Stock Exchange. Another condition is that the difference with the LNG price must be more than €58 for at least 10 days. The publication’s experts point out that even at the time of peak prices, such conditions did not develop.

The proposal of the European Commission may lead to an increase in gas prices. As for the decision itself, according to the newspaper, it will most likely be postponed until the next meeting of the relevant ministers – December 19.

Source: Все материалы – Московский Комсомолец by

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