EC considers extending application of gas price caps; proposal due in November

UE gas

Banca March : The armed conflict between Hamas and Israel has been joined by the sabotage of the Baltic pipeline earlier this month (after the existence of an “external force” was confirmed). While the Commission warns of no negative effects at present, the list of events prolongs the threat to gas supply for the winter. The gas price cap in question, which is triggered if the Dutch TTF index reaches €180/megawatt hour for three consecutive days, was established last February. On the other hand, ten countries have signed a document, led by Austria, to manage similar situations in the long term. In it, they call for focusing efforts on the transition to renewable energies.

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