“I strongly believe that a deal is within reach,” said Commissioner Kadri Simpson.
A European Union deal to cap the price of gas is within reach, the European energy commissioner said today as she arrived at a meeting of EU energy ministers in Brussels, where ministers will attempt to approve the policy.
“I firmly believe that the deal is within reach. Of course it requires one very strong spirit of compromise by everyone,” said Commissioner Kadri Simpson.
The energy ministers of the 27 member countries of the European Union are meeting again today in Brussels, trying to reach an agreement to set a limit on the wholesale prices of natural gas.
Last week the ministers failed to agree, to end the months-long deadlock over how Europe’s energy prices should be adjusted. Reacting, EU leaders called for a solution to be found by today.
The debate now mainly concerns the European Commission’s proposal for a ceiling on the wholesale price set for (some of) the derivatives available on the Dutch gas exchange TTF (“Title Transfer Facility”).
The proposal is intended to build a bridge between the group of member states that are asking for a wider ceiling to be imposed and those countries that do not want any intervention in the market, such as Germany in particular.
However, several governments have expressed reservations about the Commission’s proposal.
They point out that the conditions set by the European Commission for activating the mechanism are too strict.
The potential compromise could include a lower price floor above which the cap would be triggered and, at the same time, mechanisms to ensure supply adequacy and market stability.
A unanimous decision of the energy ministers is sought, but if there is a sufficient number of countries, the German objections to the Commission’s proposal could be overcome.
Other proposals, which have now been withdrawn from the table, included the joint supply of gas, increasing solidarity between member countries in case of shortages, speeding up licensing procedures for energy projects that use
RES-EMP
Read the News today and get the latest news.
Follow Skai.gr on Google News and be the first to know all the news.
I am Janice Wiggins, and I am an author at News Bulletin 247, and I mostly cover economy news. I have a lot of experience in this field, and I know how to get the information that people need. I am a very reliable source, and I always make sure that my readers can trust me.
