Energy emergency, black smoke at Europe’s peak price

No price cap agreements in Europe. The Extraordinary Energy Council concluded without an agreement on the gas price cap “but moderate progress has been made”. This was reported by an EU diplomatic source. “The definition of the thresholds remains – explains the source – postponed to the Energy Council on December 19 where, in case of agreement, the remaining regulations will also be approved”. “Acer and Esma’s opinion will be required on the extension to other hubs”, he adds. In short, the agreement is still far away. But the EU commission is working to bring positions closer together and reach a compromise. Italy is asking to reach an agreement, which is at a high level. The agreement on the maximum price is the objective of the meeting of the Energy Council: to manage to limit the high prices of gas – warns the Commissioner of the EU Kadri Simson – “it will not be easy because we have to balance benefits and risks, and because the Member States they have very different points of view and very different concerns.

According to a diplomatic source of the EU, the positions of the Member States “are still distant above all in relation to the objective of the regulation, due to the risks that the mechanism can involve in the financial markets”. «It is already the majority of Member States that are asking for a dynamic ceiling for the price of gas – underlines Prime Minister Giorgia Meloni – it is certain that not following a particular order in the face of this challenge of the time, thinking that those economically stronger can saving himself if necessary at the expense of others would not only be an illusion, but would betray the reality of a Europe very different from the one that has been praised in recent years».

The Minister of Business and Made in Italy, Adolfo Urso, warns that the government is “committed in the front row so that the EU does what it hasn’t done for 6 months”, causing that speculation that “has allowed some to earn so much, and for some countries to give their companies an advantage”. On the gas price ceiling, I am “convinced that a high-level agreement is needed that corresponds to the real and concrete interests of European families and, therefore, also of companies “. Then, Simson invites mediation: «As we have to reach an agreement, everyone must show a certain flexibility and everyone must be able to propose compromises. I expect very constructive discussions by the ministers to reach a solution with the greatest possible support”.