A Community document considers possible formulas for urgent intervention to lower gas and electricity prices. They will be discussed next Friday at the meeting of the extraordinary council of energy ministers.
Euskaraz irakurri: Europako erreferentziazko TTF gas-merkatuan esku hartzea aztertzen ari da EB
The European Union kicks off the political course this week with an extraordinary council of energy ministers next Friday, in which the Twenty-seven and community institutions will try to find formulas for urgent intervention to lower gas and electricity prices.
One of these formulas is, according to a Community document consulted by Efe, the possibility to act in accordance with the TTF gas market van Nederland, which serves as a reference in Europe – and has increased enormously recently – is investigating “whether an Article 122 proposal could consider intervention in the market in the event of an emergency”.
The document considers: separate natural gas into two indiceson the one hand, the liquefied and, on the other hand, those imported via a gas pipeline, and charge a maximum price for the latter.
Another “alternative to price caps” would be that it could be in an emergency use the Asian market JKM . as a referenceat an additional cost, instead of both the Dutch TTF and “subject the TTF to financial supervisionto avoid possible speculative moves”.
The document also proposes to develop “alternative natural gas benchmarks” for regions not affected by bottlenecks in Northwest Europe.
Spain, According to diplomatic sources, he will propose, among other things, to “extend the ‘Iberian mechanism’ to the rest of the EU and freeze the price of CO2” in the ETS emissions trading market.
Berlin, which had previously been frontally opposed to intervening in the markets, now wants an urgent remedy to make electricity cheaper. This change has turned the tide of the European Commission, which is working intensively on the possible intervention.
The reforms could be agreed by a qualified majority in the Council, which means that in theory they could also be implemented with the rejection of the Netherlands and without the need for the approval of the European Parliament.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
