With the start of the new year, Sweden took over the presidency of the Council of the EU, and Commission President Ursula von der Leyen immediately sent a New Year’s message to Prime Minister Ulf Kristersson on Twitter: “Your leadership will be crucial to preserve our unity in support of Ukraine.”Sweden also took over numerous […]
The gas price cap agreed on Monday could also affect wholesale gas trading away from the exchanges. This is according to the text of the Market Correction Mechanism Regulation published yesterday. “The Commission may, if appropriate, propose an amendment to this regulation to include over-the-counter (OTC) derivatives in the scope […],” Article 5d on the […]
Environmental regulatory reviews for renewables, power grids and energy storage are to be simplified for 18 months. To this end, the energy ministers significantly expanded the emergency regulation on Monday, as the version published yesterday shows. Actually, the Council had agreed not to unravel the regulation again. Proponents of the gas price cap had linked […]
Mr. Ruby, can the EU make the electricity market “fully fit for a decarbonized energy system” in just a few months, as the heads of state and government call for?The EU should distinguish between crisis measures and a new electricity market design. I think the idea of solving the price problem for the next few […]
The EU-wide price cap for gas can generally be activated from Feb. 15, 2023. Yesterday, after months of negotiations, the energy ministers in Brussels passed the regulation on the Market Correction Mechanism (MCM).The price cap is activated if the TTF for the front month is above €180 per megawatt hour for three working days and […]
With a reform of the electricity market, the Commission wants to ensure lower prices in response to pressure from member states. The proposal is to be presented by March; observers expected the consultation to begin last Friday. Instead, Europe.Table obtained a non-paper in which the Commission explains the goals of the consultation.In it, further developed […]
The energy sector and industry criticize the looming decision on the gas price cap (Europe.Table reported). “There are reports that ICE, as the most important exchange for gas trading in Europe, would raise security deposits by up to 80 percent if the price cap is passed,” Ingbert Liebing, CEO of VKU, said yesterday. “This would […]
The energy ministers agreed on some critical points for the gas price cap yesterday, but the Council Presidency does not expect a decision until Dec. 19. The level of the gas price cap is to be clarified there, said Czech Industry Minister Jozef Síkela in the evening. For the first time, Síkela hinted at wanting […]
There is a lot at stake in the EU 27 dispute over the gas price cap. All the European institutions have made this clear once again in recent days. Council President Jozef Síkela drummed up support for an agreement in several interviews over the weekend. Commission President Ursula von der Leyen yesterday sought support from […]
An energy system based on renewable energy also has security benefits, according to a senior Commission official. “With a more decentralized energy system, Ukraine would be less vulnerable to Russian attacks,” Florian Ermacora, Head of Unit International Relations in the Directorate General for Energy, said yesterday at a meeting of the Institute for Energy and […]