According to a Commission document, cited by Bloomberg, the exact parameters that will trigger the so-called market correction mechanism will be determined in advance to avoid time-consuming decision-making processes.
A price cap for the price of natural gas on the Dutch Stock Exchange (TTF), the Commission is considering, to help contain the energy crisis and meet governments’ demands for a cap.
According to a Commission document, cited by Bloomberg, the exact parameters that will trigger the so-called market correction mechanism will be determined in advance to avoid time-consuming decision-making processes.
There will also be safeguards so that this temporary measure can be suspended at any time if it jeopardizes security of supply and flows within the EU market.
It is recalled that prices on the Dutch stock market, used as a benchmark for all of Europe, jumped when Russia significantly cut gas flows to the EU. While TTF futures have retreated from August’s record high, they are still moving at levels more than double the five-year average.
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