“There was an understanding that Europe needs an intervention such as the ceiling on the price of natural gas,” it noted
The satisfaction for her European energy agreementby which “measures to limit energy prices” were decided, Athens expressed.
“An agreement was reached on energy. The differences were bridged. There was an understanding that Europe needs an intervention such as the ceiling in the price of natural gas – intervention that some they weren’t even talking a while ago“, government sources noted in the early hours of the morning today at APE-MPE, shortly after the European Council reached an agreement aimed primarily at reducing prices.
“A message was thus sent about Europe’s determination to face the energy crisis and protect its citizens and businesses. With this message, the political order was given for the details to be finalized at the level of energy ministers”, added the same sources.
The European Council invites the Council and the Commission itself to submit specific decisions as a matter of urgency as well as for the Commission’s proposals, having assessed their impact in particular on existing contracts, in such a way that long-term contracts are not affected, and taking into account different energy mixes and national circumstances:
a) voluntary joint supply of natural gas, in addition to the binding concentration of demand for a quantity equivalent to 15% of the filling needs of the storage infrastructure, according to national needs, and acceleration of negotiations with reliable partners to seek mutually beneficial partnerships with exploiting the weight of the Union’s collective market and making full use of the EU Energy Platform, which is also open to the Western Balkans and the three associated Eastern Partners;
b) a new additional benchmark by the beginning of 2023 that more accurately reflects the conditions in the natural gas market;
c) a temporary dynamic price corridor for natural gas transactions to immediately limit “episodes” of excessive natural gas prices, taking into account the safeguards set out in Article 23(2) of the Draft Council Regulation proposed on 18 October 2022;
d) temporary framework at EU level to limit the price of natural gas in electricity generation, with a cost-benefit analysis, without modifying the merit order, while preventing an increase in natural gas consumption, addressing the financing and distribution effects and its effects on flows beyond EU borders;
(e) improvements in the functioning of energy markets to increase market transparency, alleviate the liquidity crisis and eliminate factors that enhance the volatility of natural gas prices, while ensuring the maintenance of financial stability;
f) fast track the simplification of licensing procedures in order to accelerate the deployment of renewable energy sources and networks, including emergency measures under Article 122 TFEU (n.e. Treaty on the Functioning of the EU);
g) energy solidarity measures in case of disruption of natural gas supply at national, regional or Union level, in the absence of bilateral solidarity agreements;
h) increased efforts to save energy;
i) mobilization of relevant tools at national and EU level. At the same time, the protection of households and businesses, especially the most vulnerable in our societies, is an immediate priority. Maintaining the Union’s global competitiveness is also important. All relevant tools should be mobilized at national and EU level to strengthen the resilience of our economies, while maintaining Europe’s global competitiveness and maintaining a level playing field and the integrity of the single market. The European Council is committed to close coordination of policy responses. It emphasizes the importance of close coordination and joint solutions at European level, where appropriate, and is committed to achieving our policy goals in a unified manner. The Council will continue to closely monitor economic developments and is committed to further strengthening our coordination in order to provide a decisive and flexible policy response.
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