European Union energy ministers are trying to unblock a deal this Monday. grab for the price Responding to the mandate given last Thursday by the EU Heads of State and Government to complete the response to the energy crisis. There is a final compromise proposal on the table put forward by the Czech presidency, which is leading the EU this term, advocating activating the corrective mechanism when the price of gas in the TTF market exceeds the market value. 188 euros per megawatt hour, well below the 275 euros proposed by the European Commission a month ago. “We offer a solution that will satisfy both those who want a price cap and those who are afraid of it,” the Czech minister and deputy chairman of the Council said on Monday. Jozep Sikela.
countries like Greece, Poland or Belgium They have been pushing for weeks to lower the ceiling proposed by Brussels to less than 200 euros. “We have already determined that the starting price of 275 euros is not really a ceiling price. Any number between 150 or 190-200 can work. I think 188 will send a good signal to the markets,” said the Greek minister. Konstantinos Skrekas, when they arrive at the meeting. In order for the mechanism to be activated, the difference in the price of liquefied natural gas in international markets must be at least 35 Euros for three consecutive days.
“If the parameters are lower, the protections must be strengthened and that is what has happened (done). We are aware of the potential risk to the stability of financial markets”, explained the energy commissioner, kadri simsonLike Síkela, he stressed that protection measures have been strengthened. “I am aware that some countries fear loss of competitiveness in the European market or possible gas supply problems. Therefore, we offer a temporary mechanism with protections that will be a temporary emergency brake and allow us to disable it in case it does not work. For example, in case of a supply problem in the EU or on a European territory,” the Czech minister assured.
fears in berlin
for countries like Germany, the Netherlands and Austria Lowering the cap could lead to supply problems and divert gas to third countries, so there is a possibility of insisting on containment measures and automatically suspending the implementation of the corrective mechanism. “No one is against low gas prices in Germany, but we must be very careful,” said the German. Robert Habeck. Despite Germany’s reluctance, all delegations are aware of the enormous pressure they face to end this complex negotiation this Monday.
“I think we can reach a compromise but it’s hard to say what that will be” because “Member States have different goals” but “I’m positive and I hope we can be here in eight hours with good news,” he said. estonia on arrival Riina SikkutIt has been aligned with the positions of countries that have so far requested ceilings above 200 euros. Berlin also reminded that it would not be desirable to reach an agreement in which not all countries agreed, but warned that the aim of the Czech EU presidency is to “unblock the existing hindering minority” and “reach a goal”. agreement by qualified majority”.
And the cap on the gas price holds hostage two more files that have already been negotiated (and agreed upon) and whose opening depends on the corrective mechanism: the common gas purchases platform and accelerated permits for renewable energies. There is still no consensus on the possibility of raising the renewable energy target for 2030 under the Repower EU program. Nine countries, including Spain, Germany, Portugal and Greece, claim to have increased the target to 45%.
Source: Informacion
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