EU ministers decided to extend the emergency regulation on energy by a year until 31 December 2024, which includes the price cap on gas.
The price cap comes into effect if gas prices traded on the Amsterdam TTF (the bloc’s gas reference index) exceed 180 euros per megawatt hour for three business days and the price difference with liquefied natural gas on global markets exceeds 35 euros per megawatt hour.
Minister of Environment and Energy Security Gilberto Pichetto Fratin confirmed the extension of the price ceiling. “As Mase and as a government, we supported the extension of the implementation period: it represented a useful deterrent tool to avoid speculative risks in gas markets throughout 2023 and increased the resilience and stability of energy systems,” he explains. Continent”.
Meanwhile, the cost of gas in the Amsterdam market is falling by almost eight percent and is hovering at just over 32.5 euros per megawatt hour; This is one of the lowest values in the last two years. “The Minister said, on behalf of our encouraging country, we requested and received the renewal of the article on the gas price cap for one year: today’s prices are not the prices of a year ago, but the tension continues and we must always keep our Defense mechanisms active.” The measures, which were implemented in December 2022 and are planned to be renewed, include joint purchases and accelerated authorizations for renewable energy sources, along with a ceiling price.
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Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
