energy ministers The European Union has agreed to maintain a ceiling of 180 euros per megawatt-hour for joint gas purchases, where the continent taps into the power of natural gas. collective bargaining in order to avoid member states They compete with each other and raise the prices of these raw materials, and speed up by letting for renewable projects Until January 2025. twenty seven countries “Despite the situation in the market being bad”, they approved the extension of these three measures on the proposal of the European Commission “in order to increase the security of gas supply and strengthen the resilience of the market”. european energy safer than it was twelve months ago.
“The extension of the three emergency measures is necessary to address the still fragile situation in the EU after Russia’s invasion of Ukraine. This will allow us to guarantee the stability of energy markets, mitigate the impact of the crisis and protect citizens from possible crises. Stating that it was due to energy prices, the third vice president and Minister of Ecological Transition said: Teresa RiberaHe is the one who chairs the last energy meeting of the Twenty-Seven this Tuesday, with Spain at the head of the rotating presidency of the Council of the European Union.
Call market correction mechanismdetermining this limit Gas price 180 euros per megawatt hour, intends to avoidextremely high gas peaks” In the coming months. This system is activated if the gas price exceeds this figure for three consecutive days and Difference with the price of liquefied natural gas (LNG) in international markets at least 35 euros. That is, prices in Europe are rising rapidly and far exceed prices in other markets, which is a symptom of an artificial increase in raw material prices.
Thus, by protecting this border, Europe, in a way, to protect We are faced with a hypothesis, which seems unlikely, that the gas price reaches 180 euros per megawatt-hour. future prices Reference European market Dutch TTFIt is located around 35 euros per megawatt hour for next year. This protection can act respectively as follows: Alternative to the Iberian mechanismThe gas price cap they designed for electricity generation Spain and Portugal It is in the worst period of the price crisis and will end thereafter December 31, If the government or the European Commission decides not to continue them after this date.
HE Iberian mechanism It currently stands at 65 euros per megawatt-hour (compared to 40 euros per megawatt-hour in the first reference year), and in recent months the vice president has acknowledged that he intends to extend this measure for another year. , but in recent days sources within his department have indicated that he is still there. no decision has been made. “Signs of protection for vulnerable consumers will remain (…). The remaining measures must also be seen Which ones are left?whether some kind of change needs to be made and Those covered by European measures “There is therefore no need to maintain them,” Ribera said in a speech last week. Interview on RNE.
On the other hand, European ministers also agreed on Tuesday to continue the agreement. joint gas purchases“Reliable reference prices and cross-border gas exchanges” for a period of one year from 30 December 2022 to 31 December 2024, but in this case Article 10 on mandatory participation book aggregation.
The regulation is also being expanded to speed up the permitting process for renewable projects designed to “reduce dependence on the EU.” Valid from Russia’s fossil fuels December 30, 2022 for 18 months. The EU Council said, “Ministers agreed to extend the implementation period of some of the amended provisions of the regulation until 30 June 2025. The changes, unlike the other two emergency regulations, go beyond simply extending the implementation period of the regulation.” In a statement.